Interpublic Group of Cos. (IPG) Tops Q3 EPS by 4c

October 21, 2016 7:16 AM EDT

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Interpublic Group of Cos. (NYSE: IPG) reported Q3 EPS of $0.33, $0.04 better than the analyst estimate of $0.29. Revenue for the quarter came in at $1.92 billion versus the consensus estimate of $1.91 billion.

"The quarter reflected solid revenue and profit increases, with positive momentum from a broad range of our creative, marketing services and media offerings," said Michael I. Roth, Interpublic's Chairman and CEO. "Our digital capabilities also continued to be very significant drivers of growth, which demonstrates that we remain highly relevant in today's complex media and marketing landscape. Operationally, we once again demonstrated the ability to manage expenses effectively, a key priority for us. Going forward, the overall tone of business remains solid and, in light of the strength of our offerings and our organic revenue performance through nine months, we believe it's appropriate to raise our full-year organic growth target to a range of 4 to 5 percent. We also feel that we remain well-positioned to achieve 2016 operating margin expansion of 50 basis points or more. Combined with the strength of our balance sheet and our proven commitment to robust capital return programs, which have been a source of significant value creation, this will allow us to further enhance shareholder value."

For earnings history and earnings-related data on Interpublic Group of Cos. (IPG) click here.

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