Interpublic cuts organic growth forecast, shares slide [Reuters]
Interpublic Group of Companies, Inc. (The) (IPG)
Last interpublic group of companies, inc. (the) earnings: 4/22 07:00 am
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Source: Reuters
Interpublic cuts organic growth forecast, shares slide | Reuters Reuters Staff 2 Min Read (Reuters) - U.S. advertising company Interpublic Group ( IPG.N ) slashed its annual forecast for organic revenue growth, as clients in its overseas markets curb spending on marketing. Shares of Interpublic, one of the world’s “Big Four” traditional advertising groups, fell nearly 8 percent to $19.00 in premarket trading on Tuesday. The company said it now expects full-year organic revenue growth of 1 percent to 2 percent, compared to a previously expected range of 3 percent to 4 percent. The company’s third-quarter revenue and earnings missed analysts’ estimates, led by a 1.3 percent decline in international revenue to $746.6 million in the quarter ended Sept. 30. Analysts on average had expected international sales of $769 million, according to research firm FactSet. Interpublic, whose clients include Google, Microsoft and Coca-Cola, said revenue from the United States, which makes up more tha
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- 3/4/24 - Form 4
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- IPG's page on the SEC website