Grey Global Group Net Income Down 58 Percent in 2Q

NEW YORK–Grey Global Group reported a net income of about $2.4 million for the second quarter, down almost 58 percent from $5.7 million for the same period last year.

For the first half of the year, Grey reported $2.7 million in net income, a 75 percent drop from last year’s first half figure of $10.9 million. Revenue rose slightly, up 3 percent to $314 million in the second quarter. Revenue was also up 4 percent in the first half of last year, increasing to $619 million, compared to the same period a year before.