IPG revenue up, net income boosted by Facebook sale

Share this content:

The Interpublic Group of Companies (IPG) reported revenue of $1.73 billion for the third quarter of 2011, an 11.1% growth increase compared with Q3 2010.

Net income for the third quarter of 2011 grew by 367.8% year-over-year to $273.2 million. Total third quarter operating expenses increased 6.9% to $1.6 billion for the holdings company.

IPG's Integrated Agency Network segment, which includes domestic agencies McCann Worldgroup, Draftfcb, Lowe & Partners and Mediabrands, reported an 8.3% increase in third quarter revenue to $1.4 billion. IPG's marketing services contributed 42% of the holding company's total revenue last year.

IPG sold half of its stake in Facebook for $133 million in August. Less than a month after losing the S.C. Johnson & Son global advertising account to BBDO and Ogilvy & Mather, Draftfcb Chicago reduced its staff by approximately 10%. The agency's global workforce was cut by 3%.

Also during the quarter, retailer IKEA named McCann NY its global agency of record for its catalog business. MRM Worldwide combined its Americas operation with McCann Erickson Salt Lake City.

Michael Roth, IPG's chairman and CEO, said digital was a major contributor to the company's Q3 growth.

“The digital capabilities within our integrated agencies, marketing services firms and those at our media businesses all contributed to our strong performance,” he said.

Loading links....

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here