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BUZZ-Interpublic Group rises on upbeat first-quarter results

Reuters
Apr 24
BUZZ-Interpublic Group rises on upbeat first-quarter results

** Advertising firm Interpublic Group's IPG.N shares rise 3.6% to $24.86 in early trading

** The company reported Q1 revenue of $2 billion, above analysts' estimates of $1.98 billion, according to data compiled by LSEG

** On an adjusted basis, the company earned 33 cents per share, compared with an expectation of 27 cents

** "Account activity over the prior 12-month period will weigh on this year, though that impact was lessened in the quarter by sound underlying performance, with notable growth at IPG Mediabrands, Deutsch and Golin, as well as growth at Acxiom," CEO Philippe Krakowsky, said.

** IPG remains on track to complete its merger with Omnicom in the second half of 2025

** Up to last close, IPG's stock had fallen 14.4% YTD

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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