Like Omnicom before it, Interpublic Group is reporting a solid Q2 as the agency holding company announced that for the quarter ending June 30, earnings rose almost 200% to $82.5 million, compared with earnings of $27.8 million in the same period last year.
Meanwhile, IPG revenue was up 9.7 percent in the second quarter of 2010 compared with the same period in 2009 with the tally hitting $1.62 billion. In a statement, Interpublic chairman/CEO Michael Roth seems optimistic enough, saying, “With revenue stability and growth back in the picture, we feel we are very much on track to deliver on our operating margin objective of better than eight percent for 2010. Combined with our commitment to put the cash on our balance sheet to work on behalf of shareholders, we believe our financial performance positions us well to enhance shareholder value going forward.”
Roth added that thanks to economic recovery, IPG will be able to get back on a positive margin trajectory and even increased its margin outlook for the year to better than 8 percent.
More: “IPG CEO: The Worst May Be Over”