Interpublic Registers 7% Organic Growth For '10
A stronger advertising economy sharply lifted the Interpublic Group of Cos.' fourth-quarter 2010 net income. The parent company includes agency brands such as McCann Erickson, Initiative and Draftfcb. The 40% gain to $222.8 million during the period easily surpassed analysts' expectations -- and as a result, its stock price quickly rose 7.5% to $12.50 in midday trading.
Revenue grew 12% to $2.01 billion. Analysts were expecting revenue of around $1.92 billion.
Michael I. Roth, chairman and CEO of Interpublic, said: "All indications are that the economy in 2011 will continue to be positive, and we expect to deliver competitive organic revenue growth and aggressive margin expansion."
During the fourth quarter of 2010, the impact of net acquisitions -- new agency business was positive 0.5% -- resulted in an organic revenue increase of 11.2%. For the year, organic revenue growth was 7%.
Operating profit increased 23% for the fourth quarter to $330.7 million, and 61% for full year 2010 to $548.7 million.
Roth said: "Organic growth at the top end of our peer group reflects the strength of our agencies and our ability to deliver integrated and increasingly digital solutions to our clients. We saw contributions to this performance from across the portfolio, led by our companies in the U.S. and in emerging international markets."
Recent MediaDailyNews Articles
-
Worldwide Pay TV On The Rise, Big Growth In Asia May 23, 4:17 p.m.
North American pay TV subscribers may continue to show little or no growth for the first ... -
Activision Blizzard's Campaign Win Grand Effie May 23, 4:12 p.m.
Videogame marketer Activision Blizzards’ ad campaign “The Vet and the nOOb” for Call of Duty: Modern ... -
Mag Bag: Bonnier, Source Interlink Swap Mags May 23, 4:09 p.m.
Enthusiast publisher Bonnier Corp. continued wheeling and dealing this week with the purchase of a biker ... -
Madison Avenue Is Mad As Hell, March Mad: Takes More, Not Less Network TV May 23, 7:46 a.m.
Demand for network TV advertising, which had been lagging so far this year, surged in April ... -
NY1 Show Goes National May 22, 7:32 p.m.
Time Warner Cable (TWC) will begin distributing a show about Broadway and theater at large to ... -
TV Model: Nets, Stations Split Retrans 50/50 May 22, 6:02 p.m.
Gray Television CFO Jim Ryan suggested that networks may capture more than half of an affiliate’s ... -
Newspaper, Magazine Ad Fortunes Continue To Decline May 22, 5:59 p.m.
The release of fourth-quarter figures for newspaper advertising and first-quarter figures for magazine ad pages earlier ... -
Equifax Taps Dentsu's 360i As Lead Agency May 22, 5:24 p.m.
Data collection company Equifax has selected Dentsu shop 360i to be its lead agency -- for ... -
NBC Gives 'Voice' To Tuesday, ABC 'Dancing' Into Second Place May 22, 5:08 p.m.
Two nights left of the TV season and NBC scored a Tuesday night win.Its big show, ... -
Multichannel Video Cos. Register Subscriber Loss, Satellite TV Gains May 22, 10:55 a.m.
For the first time in a year-long period, the biggest multichannel video companies have witnessed a ...
Be the first to comment on "Interpublic Registers 7% Organic Growth For '10"
Leave a Comment