Interpublic Group's net income nearly doubled in the third quarter, as revenue grew by 8 percent. The holding company ended the quarter with $1.84 billion in revenue and net income of more than $89 million, up from $45 million in the same period last year. On an organic basis, revenue rose more than 6 percent.
first nine months
The claims of merger partners Omnicom Group and Publicis Groupe notwithstanding, WPP Group CEO Martin Sorrell expects the mega-merger to result in consolidation among Omnicom and Publicis Groupe shops.
Interpublic Group, bitten by marketer caution felt throughout the industry, saw its revenue and net income decline in the third quarter and first nine months of the year. For the quarter, revenue dipped 3 percent to $1.67 billion from the same period last year. At the same time, net income fell to $68.7 million from $208.1 million in Q3 2011.