The Interpublic Group of Companies, Inc. (IPG) reported second quarter net income available to common stockholders of $121.2 million or $0.29 per share compared to $99.4 million, or $0.23 per share, last year.
On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.27 for the quarter. Analysts' estimates typically exclude special items.
Revenue was $1.88 billion, an increase of 1.3% compared to $1.85 billion, prior year. During the quarter, the effect of foreign currency translation was negative 5.7%, the impact of net acquisitions was positive 0.3%, and the resulting organic revenue increase was 6.7%. Analysts expected revenue of $1.84 billion for the quarter.
"We saw positive contributions to our top-line performance from a broad range of our creative, marketing services and media offerings, " said Michael Roth, Interpublic's Chairman and CEO.
Interpublic Group believes that the appropriate organic growth target for 2015 is now 4%-5%.
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