GLOBAL – NOVEMBER 2010 – Interpublic announced its third quarter and first nine months 2010 revenues late last week, showing increased income reflecting increased client spending and new business wins.
Third quarter 2010 revenue was $1.56 billion, compared to $1.43 billion in the third quarter of 2009, with an organic revenue increase of 9.4% compared to the prior-year period. There was organic growth of 10.0% in the U.S., increases in most international geographic regions and double-digit organic increases in key developing markets, as well as strong contributions from digital capabilities.
Revenue of $4.52 billion in the first nine months of 2010 was up 6.9% compared with the same period in 2009.
Said Michael I. Roth, Interpublic’s Chairman and CEO: "Our professional offerings are fully competitive, across the full range of disciplines, including our digital capabilities. In addition to the U.S., we saw significant top-line contributions from our operations in emerging economies. Though macro uncertainty remains, both domestically and internationally, we are confident that we can deliver on our operating margin target of greater than 8% in 2010."
Operating income in the third quarter of 2010 was $100.2 million, compared to operating income of $58.3 million in 2009. For the first nine months of 2010, operating income was $218.0 million, compared to operating income of $73.3 million in 2009.
Third quarter 2010 net income attributable to IPG was $45.3 million. First nine months 2010 net income attributable to IPG was $63.2 million. This compares to net loss attributable to IPG a year ago of $15.1 million.
