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

Driving relevance means driving growth. Join global brands and industry thought leaders at Brandweek, Sept. 11–14 in Miami, for actionable takeaways to better your marketing. 50% off passes ends April 10.

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



Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in