- Interpublic Group (NYSE:IPG) has slipped 2.1% in U.S. trading after Q1 revenues came up just short of expectations.
- Revenue grew slightly overall in a seasonally small quarter, but was dragged by international results, where revenues fell 1.3% (up 2.2% on an organic basis).
- But profits beat as net income available to stockholders nearly quadrupled, to $21.5M.
- Revenue by geography: United States, $1.11B (up 1.9%); International, $642.1M (down 1.3%).
- Cash and equivalents and marketable securities came to $778.1M as of March 31, vs. $1.1B at year-end 2016. Total debt was $1.92B.
- The business is sound, says CEO Michael Roth. "We therefore believe we are well positioned to achieve our full year targets of organic revenue in the 3% to 4% range, as well as to improve operating margin by an additional 50 basis points relative to 2016 levels."
- Press Release
- Now read: Proofpoint +8.1% after Q1 beat wows analysts
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