Net income at Interpublic Group grew significantly in both the second quarter and first half of the year, amid modest revenue growth.
Ad spending growth in the U.S. slowed significantly in the second quarter, according to a report from Kantar Media.
Publicis Groupe delivered disappointing second-quarter and first-half results, with chief Maurice Lévy saying 2014 will “be a difficult year.”
Omnicom Group generated net income of more than $318 million in the second quarter, up 13 percent from the same period last year.Revenue for the quarter grew 6 percent to $3.87 billion, exceeding the estimates of Wall Street analysts, who had projected revenue of $3.74 to $3.82 billion, according to Yahoo Finance.
Interpublic Group's net income more than tripled in the first half of the year, thanks to solid revenue and earnings growth in the second quarter.Second-quarter net income grew 24 percent to $99.4 million, from $79.9 million in the same period last year. Revenue for the quarter grew 5 percent to $1.85 billion.
Profits at Interpublic Group declined in the both the second quarter and first half of 2013, despite revenue growth. The company blamed costs associated with new-business efforts and softness in continental Europe, particularly in June.