Interpublic profit falls on costs, taxes

July 19 Fri Jul 19, 2013 7:18am EDT

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.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.