Interpublic Q3 revenues edge up 1.4%

Sales edged up slightly by 1.4% on an organic basis at Interpublic in the third quarter of 2019, driven by the performance of its media, healthcare marketing, public relations and sports and entertainment offerings and by international markets.

Interpublic said in the nine months to September, organic revenue was up 3.5%. In the second quarter, the company reported a 3% rise in organic net revenue growth, beating analyst expectations. It added that it remains on track to maintain its target of 2% to 3% organic revenue for the full year.

The pace of growth slowed in the third quarter compared with the same period last year, when organic growth was 5.4%, but chairman and chief executive Michael Roth said the results were "another solid quarter of financial performance".

Regionally, Roth added, growth in the third quarter was led by international markets, while in the US the business was "working our way through the impact of certain account-specific headwinds".

He continued: "As we enter our important fourth quarter, we are confident that our performance to date, and the current tone of business, have us on track to deliver growth at the high end of the 2019 target of 2% to 3% organic net revenue growth."

In September, Interpublic promoted Philippe Krakowsky to chief operating officer and Daryl Lee to global chief executive of IPG Mediabrands.