Interpublic Q2 Profit Drops - Quick Facts

(RTTNews) - Interpublic Group of Companies, Inc. (IPG) said its second-quarter 2013 net income available to IPG common stockholders slipped to $79.9 million, or $0.18 a share, from $99 million, or $0.22 a share, last year. On average, 17 analysts polled by Thomson Reuters expected earnings per share of $0.22 for the quarter. Analysts' estimates typically exclude one-time items.

However, three-month revenue was $1.76 billion, up compared with $1.72 billion in the second quarter of 2012, whereas 16 analysts estimated revenues of $1.75 billion for the quarter. During the quarter, the effect of foreign currency translation was negative 1.0%, the impact of net acquisitions was positive 1.2%, and the resulting organic revenue growth was 2.2%. This was comprised of an organic revenue increase of 3.3% in the U.S. and 0.8% internationally.

During the recent quarter, pre-tax income was $147.9 million and the provision for income taxes was $62.0 million.