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Interpublic (IPG) Meets Q3 Earnings Estimates, Tops Revenues

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The Interpublic Group of Companies, Inc. (IPG - Free Report) reported third-quarter 2019 earnings per share of 48 cents (on an adjusted basis) which matched the Zacks Consensus Estimate.

How Was the Estimate Revision Trend?

Investors should note that the earnings estimate revisions for Interpublic depicted a pessimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for third-quarter 2019 earnings move down 2% over the last 60 days.

However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in each of the last four quarters with an average beat of 25.5%.

Revenues Better Than Expected

Interpublic recorded revenues of $2,438.1 million which outperformed the Zacks Consensus Estimate of $2,071.8 million. Moreover, revenues compared favorably with the year-ago figure of $2,297.5 million.

Key Stats to Note: Interpublic reported organic net revenue growth of 1.4% in third-quarter 2019.

Zacks Rank: Currently, Interpublic has a Zacks Rank #4 (Sell) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

Check back later for our full write up on this Interpublic earnings report later!

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