IPG CEO Michael Roth Says Q2 Earnings Hit 'Not as Severe' as Predicted

Even so, the holding company is shedding office space and staff to cut costs

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On IPG’s second quarter earnings call today, CEO Michael Roth said that while Covid-19 has impacted its various businesses differently, the holding company has navigated the virus better than expected.

The company, which owns agencies including FCB, McCann, R/GA and UM, saw its organic net revenue decrease 9.9% during Q2. In the same period last year, IPG experienced 3% organic net revenue growth. Net revenue decreased 12.8% to $1.85 billion.

It appears as though IPG has fared the pandemic somewhat better than its rivals: Omnicom’s organic revenue fell

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