Interpublic: lower-than-expected Q4 earnings
(CercleFinance.com) - Interpublic has reported a lower-than-expected Q4 profit on Wednesday, despite much better-than-expected sales.
This morning the US advertising group announced net profit that fell to $344.5m, or 92 cents per share, from $463.2m ($1.21 per share) a year ago.
Adjusted EPS was $1.11, four cents below the consensus of $1.15.
The owner of the McCann agency, amongst others, reported sales that fell 5.5% to $2.9bn, well above the consensus of $2.5bn.
On an organic basis, sales fell by 1.8%.
The New York-based group says that the solid crop of contracts won in Q4 and at the start of the year should enable it to generate positive organic growth of 1% to 2% in 2025.
Following this publication, the share price lost more than 1% in pre-market trading on Wall Street.
Interpublic's share price has fallen by 3% YTD, vs. a 3% rise in the S&P 500 index.
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