MDC Partners Reports Tech, Digital Generated 51 Percent of Q1 Revenue
MDC Partners announced its earnings for the first quarter ending March 31, 2011, reporting revenue totaling $217.5 million, a 60 percent increase from $135.9 million in Q1 2010. The company also saw a 26.5 percent jump in organic revenue. Net new business amounted to $8.2 million for the quarter. And technology and digital-related revenue totaled 51 percent of revenue for the quarter.
“While it’s still early in the year, with our differentiated model and a smart approach to investment and cost management, we are reiterating our 2011 fiscal year guidance,” said chairman and CEO Miles Nadal in a statement.
CFO David Doft also said that the company is “confident” it “can approach a $1 billion run rate in revenue in the next nine months.”
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