Interpublic Group Of Companies (IPG) has reported 298.15 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $21.50 million, or $0.05 a share in the quarter, compared with $5.40 million, or $0.01 a share for the same period last year. On an adjusted basis, the company has earned $9.10 million, or $0.02 a share for the quarter.
Revenue during the quarter went up marginally by 0.68 percent to $1,753.90 million from $1,742 million in the previous year period. Total expenses were 98.31 percent of quarterly revenues, down from 98.68 percent for the same period last year. This has led to an improvement of 37 basis points in operating margin to 1.69 percent.
Operating income for the quarter was $29.70 million, compared with $23 million in the previous year period.
"Against very challenging comparisons, we showed solid organic revenue growth in the quarter, with contributions from across our agencies and all marketing disciplines. Operating margin increased 40 basis points compared to last years first quarter. Underlying this performance is the excellence of our people. Outstanding consumer insights, industry-leading creativity, top tier digital capabilities, and the delivery of efficient and precisely targeted communications have all become hallmarks of the agencies in our portfolio. By continuing to deliver integrated open architecture solutions and increasing investment in our holistic data platform, we will ensure that we stay highly relevant in todays complex marketing landscape," said Michael I. Roth, Interpublics chairman and chief executive officer. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: email@example.com