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Interpublic quarterly revenue drops
February 22, 2013 / 12:16 PM / in 5 years

Interpublic quarterly revenue drops

Feb 22 (Reuters) - Interpublic Group of Cos, home to advertising agencies McCann Erickson and Draftfcb, reported marginally lower quarterly revenue as both domestic and international markets weakened.

Net income for the second-biggest U.S. advertising and marketing group rose to $313.3 million, or 74 cents per share, in the fourth quarter, from $259 million, or 50 cents per share, a year earlier.

Excluding the impact of the Facebook transaction during the fourth quarter of 2012, it earned 56 cents per share.

Revenue slipped to $2.06 billion from $2.07 billion.

The company sold its remaining 0.2 percent stake in Facebook Inc for $95 million in cash in November, and said it expected to record a pre-tax gain of $94 million.

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