* 4th quarter overall revenue up 3 pct at $2.12 bln
* Revenue from U.S. rises 7 pct
Feb 14 Interpublic Group of Cos, the no.
2 U.S. advertising company, reported a 3 percent rise in
quarterly revenue, mainly helped by growth in its domestic
Interpublic, which counts Amazon.com Inc and
General Motors Co's Cadillac as customers, also said it
was targeting 3-4 percent organic revenue growth this year.
Organic revenue climbed 2.8 percent in 2013 from a year earlier.
The company, home to advertising agencies McCann Erickson
and Draftfcb, announced a 27 percent increase in its quarterly
cash dividend to 9.5 cents per share.
Bigger rival Omnicom Group Inc reported a
better-than-estimated 2.9 percent rise in quarterly revenue due
to growth in its international markets.
Weak demand from continental Europe last year forced
Interpublic to cut costs in the region, including headcount
Revenue from continental Europe accounts for about 10
percent of the company's revenue.
Interpublic's net income fell to $193.1 million, or 44 cents
per share, in the quarter ended Dec. 31, from $313.3 million, or
68 cents per share, a year earlier.
Excluding one-time items, the company earned 56 cents per
The company recorded restructuring charges of $60.6 million
in the quarter, including those related to the headcount
reductions in Europe.
Overall revenue rose 3 percent to $2.12 billion. Domestic
revenue, which accounts for about half the company's revenue,
grew 7 percent.
Overall organic revenue rose 3.7 percent, helped by a 6.9
percent increase from outside the United States.
Analysts had expected a profit of 58 cents per share on
revenue of $2.12 billion, according to Thomson Reuters I/B/E/S.
Interpublic also said it authorized a new share repurchase
program of up to $300 million of the company's common stock,