Interpublic: 2Q Earnings Snapshot
NEW YORK (AP) _ Interpublic Group of Cos. (IPG) on Tuesday reported second-quarter profit of $145.8 million.
On a per-share basis, the New York-based company said it had profit of 37 cents. Earnings, adjusted for non-recurring costs, were 43 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 43 cents per share.
The marketing and advertising company posted revenue of $2.39 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $1.91 billion.
Interpublic shares have risen 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. The stock has dropped 14 percent in the last 12 months.