MDC Loses $20 Million In Q2; Revenues Up 15%

MDC Partners lost $20 million in the second quarter while posting a 15% hike in revenues for the second quarter to $274 million, the company reported today. Organic revenue growth topped 8%.

 For the first six months of the year the Toronto-based ad holding company said it lost more than $46 million on a 12.5% hike in revenues to nearly $510 million. First half organic growth was nearly 7%.

Company CEO Miles Nadal attributed the losses to “the continued impact of historical investment spending.”

Net new business wins for the first half totaled $80 million in billings, up more than 70% compared to the same period a year ago.

“We like where we stand heading into the second half of the year,” stated Nadal, adding that the company remains focused on cost efficiency and debt reduction.

Next story loading loading..

Discover Our Publications