IPG's Q2 Revenue, Income Plummet

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NEW YORK Interpublic Group, hit hard by spending cuts from clients in the auto sector and events marketing, reported second-quarter revenue of $1.47 billion, a 19.7 percent drop from the year-ago period.

IPG’s Q2 net income plummeted 76 percent to $20.9 million, or 4 cents a share, from $88.1 million or 17 cents a share, one year ago.

Viewed in organic terms (excluding the impact of acquisitions and currency fluctuations), IPG’s revenue fell 14.5 percent during the second quarter.

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