Interpublic profit falls on costs, taxes
July 19 (Reuters) - Interpublic Group of Cos, home to advertising agencies McCann Erickson and Draftfcb, reported a 19 percent drop in profit due to higher costs and taxes, but revenue rose due to a buoyant N American advertising market.
Interpublic, the second-largest U.S. advertising company, said net income available to shareholders fell to $79.9 million, or 18 cents per share, in the second quarter from $99 million, or 22 cents per share, a year earlier.
Total revenue rose 2.3 percent to $1.76 billion, helped by a 4.8 percent rise in domestic revenue.
Advertising spending in the United States gained momentum in the second quarter, helping larger rivals Omnicom Group and Publicis Groupe report strong sales growth.
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