Categories Earnings, Other Industries

Earnings Summary: A snapshot of Interpublic Group of Companies’ (IPG) Q2 2023 results

Interpublic Group of Companies, Inc. (NYSE: IPG), a provider of marketing solutions, reported an increase in adjusted profit for the second quarter of 2023 despite a decrease in revenues

  • Total revenue, including billable expenses, was $2.67 billion in the June quarter, which is down 2.5% from the year-ago period
  • Revenue before billable expenses declined 2% to $2.33 billion, with an organic decrease of 1.7%
  • Reported net income was $265.5 million or $0.68 per share, compared to $229.6 million or $0.58 per share last year
  • Adjusted earnings, excluding one-off items, moved up to $0.74 per share in Q2 from $0.63 per share a year earlier
  • Q2 Operating income was $310.7 million, compared to $349.1 million in 2022
  • Adjusted EBITA, before restructuring charges, came in at $330.2 million

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