Interpublic Q2 Earnings: Profit Down More Than 70%

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By Joe Ciarallo Comment

Interpublic Group reported Q2 earnings today, highlighted by a drop in profit of more than 70%. Revenue of $1.47 billion was down 19.7% compared to the same period last year. The results were worse than recent earnings reports from Omnicom Group and Publicis Groupe.

Advertising Age‘s Rupal Parekh cited CEO Michael Roth as stating the holding company’s PR agencies – Weber Shandwick and Golin Harris – were “weathering the storm well.” Indeed, Interpublic’s Constituency Management Group (CMG), which houses Golin and Weber, along with MWW Group and DeVries, reported a less drastic 24% decline in year-over-year revenues.