Interpublic quarterly profit falls
NEW YORK, July 30 |
NEW YORK, July 30 (Reuters) - Advertising company Interpublic Group (IPG.N) said on Wednesday second quarter profit fell as a tax provision offset higher revenue.
The parent company of DraftFCB, McCann-Erickson and other agencies reported a net profit applicable to common shareholders of $88.1 million, or 17 cents a share, down from $121.5 million, or 24 cents a share, a year earlier.
Interpublic said it made a tax provision in the second quarter of $79.1 million, compared with a benefit of $11.4 million in the same period of 2007.
Revenue rose 11 percent to $1.84 billion. (Reporting by Paul Thomasch, editing by Maureen Bavdek)
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