IPG posts revenue decline, share price jumps

IPG has reported a marginally better second quarter than expected, posting a 3.5% drop in organic net revenue. The news prompted a 6.7% jump in IPG’s stock.

The holdco reported AU$3.87 billion (US$2.54 billion) in total revenue for Q2, down from AU$4.14 billion (US$2.71 billion) in the same period last year.

Net revenue was down 6.6% year-on-year at AU$3.31 billion (US$2.17 billion). This reflected a net decrease due to “strategic dispositions” of 3.4%, organic growth of -3.5%, and impact of foreign currency translation of 0.3%.

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Subscribe

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.

"*" indicates required fields

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing.