IPG First Quarter Earnings Beat Analyst Expectations

    Shares of the holding group have climbed by 11% this year.

    By The Staff - Apr 29, 2021
    IPG First Quarter Earnings Beat Analyst Expectations

    Philippe Krakowsky, CEO of IPG

    Interpublic Group has released their first-quarter numbers showing strong signs of recovery from the covid pandemic. Net revenue of $2.03 billion USD was an increase of 2.8% over the same period last year.

    Total revenue, including billable expenses was $2.26 billion USD compared with $2.36 billion USD in 2020. The strong numbers resulted in earnings per share of $0.23 USD, far outpacing analyst projections.

    On the year, shares of the holding group have climbed by 11%.

    “We are pleased with results this quarter. Our strong start to the year reflects the quality of our talent, across the organization, and underscores the successful evolution of our offerings at a time of accelerating, transformational change. Our ability to create marketing and media solutions that bring together outstanding creativity with the benefits of technology, and an ethical approach to data management, positions us to address higher-order business opportunities,” said Philippe Krakowsky, CEO.

    “This combination was a key driver of growth during Q1. Further, our return to growth coupled with the benefits of strategic restructuring actions taken last year, and certain variable expenses that remain at very low levels, led to outstanding margin performance this quarter.”

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