Interpublic Group Q1 Results Beat View; Affirms FY19 Outlook - Quick Facts

(RTTNews) - Interpublic Group of Companies Inc. (IPG) on Friday reported that its first-quarter net loss available to IPG common stockholders was $8.0 million or $0.02 per share, narrower than net loss of $14.1 million or $0.04 per share in the year-ago period.

The latest quarter's results include amortization of acquired intangibles of $17.4 million, after-tax restructuring charges of $24.2 million, and after-tax loss of $8.6 million on the sales of businesses.

Excluding items, adjusted earnings for the quarter were $0.11 per share, compared to adjusted earnings of $0.04 per share a year ago.

Net revenue for the quarter grew 13 percent to $2.00 billion from $1.77 billion last year. Organic net revenue increased 6.4 percent, which excludes results from Acxiom.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.04 per share for the quarter on revenues of $1.96 billion. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2019, the company confirmed it is on track to achieve its full-year organic net revenue growth target of 2.0 percent to 3.0 percent, and adjusted EBITA margin expansion of 40 to 50 basis points.