Interpublic Tops Q1 Estimates

reported better-than-expected results for the first quarter on Friday. The New York-based company reported a quarterly loss of $1.8 million, versus a year-ago loss of $20.9 million. On a per-share basis, Interpublic broke even, versus a year-ago loss of $0.05 per share. Its revenue climbed 2.4 percent to $1.68 billion, while organic revenue climbed 5.7 percent. However, analysts were expecting a loss of $0.03 per share on revenue of $1.65 billion. U.S. revenue gained around 7 percent, while international revenue slipped around 3.8 percent. Operating income was $7.8 million in the latest quarter, versus an operating loss of $11.7 million. During the quarter, Interpublic Group repurchased 2.5 million shares of its common stock at an total cost of $51.2 million. At March 31, 2015, the company had $741.2 million in cash, cash equivalents and marketable securities, versus $1.67 billion at December 31, 2014. The average estimate among 6 Estimize users was for a loss of $0.03 per share and revenue of $1.65 billion. "We are pleased to report first quarter results that feature strong organic growth, as well as progress in terms of operating profit. We continue to see the benefits of our long-term investments in talent and our commitment to embedding digital capabilities and expertise throughout our portfolio," said Michael I. Roth, Interpublic`s Chairman and CEO. The executive added, "Looking forward, we believe that we remain well positioned to achieve our 2015 targets of 3-4% organic revenue growth and 80-100 basis points of improvement in operating margin, thereby further enhancing shareholder value." Interpublic shares closed at $21.16 yesterday.