News Byte: Interpublic Reports Revenue Gains, Income Decreases for 2013
Income Decreases, revenue gains
Revenues rose by 2.4% to $7.12 billion in 2013 at agency holding company Interpublic, which announced its full-year and Q4 earnings results today. However, net income for the year was down to $259.2 million from $435.1 million in 2012, a 40% decrease.
Much of Interpublic's revenue growth was driven in the U.S., where new business contributed to almost 4% in organic growth. Conversely, international regions generated under 2% organic growth for the year.
"We are pleased to report a quarter of solid growth, led by outstanding U.S. performance. This brought our full-year organic revenue increase to 2.8%," said Michael Roth, chairman and CEO at Interpublic. “Our results in Europe fell short of expectations, which had a major impact on overall profitability.”