Interpublic misses by $0.07, misses on revs
- Reports Q2 (Jun) earnings of $0.27 per share, excluding non-recurring items, $0.07 worse than the Capital IQ Consensus of $0.34; revenues fell 1.7% year/year to $1.88 bln vs the $1.95 bln Capital IQ Consensus.
- "Applying these capabilities across our client roster positions us to achieve the low end of our 3% - 4% organic growth target for the year. We will also stay highly focused on costs, in order to build on our strong record of driving margin improvement, and we remain committed to delivering 50 basis points of operating margin expansion in 2017. Combined with the strength of our balance sheet and our commitment to capital return, that means there is significant potential at IPG for further value creation and enhanced shareholder value."