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8-K
INTERPUBLIC GROUP OF COMPANIES, INC. filed this Form 8-K on 07/25/2017
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FOR IMMEDIATE RELEASE
 
New York, NY (July 25, 2017)


Interpublic Announces Second Quarter and First Half 2017 Results

Second quarter reported revenue decrease of 1.7%; organic revenue increase was 0.4% and was 1.0% excluding the impact of lower pass-through revenue.
First half reported revenue decrease of 0.6%; organic revenue increase was 1.5% and was 1.7% excluding the impact of lower pass-through revenue.
Second quarter operating income of $206.5 million and operating margin of 11.0%.
Second quarter diluted earnings per share of $0.24 and $0.27 as adjusted for below-the-line items, compared with $0.38 and $0.33 as adjusted a year ago.
First half diluted earnings per share of $0.29 and $0.32 as adjusted for below-the-line items, compared with $0.40 and $0.36 as adjusted a year ago.
Company remains committed to delivering its full-year performance target of 50 basis points of operating margin expansion and achieving the low end of its 3%-4% organic growth range.

Summary

Revenue
Second quarter 2017 revenue decreased 1.7% to $1.88 billion, compared to $1.92 billion in the second quarter of 2016, with an organic revenue increase of 0.4% compared to the prior-year period. This was comprised of an organic increase of 0.7% in the U.S., which was 1.7% excluding the impact of lower pass-through revenues, and no organic change internationally.
First half 2017 revenue decreased 0.6% to $3.64 billion, compared to $3.66 billion in the first half of 2016, with an organic revenue increase of 1.5% compared to the prior-year period. This was comprised of an organic revenue increase of 1.7% in the U.S., which was 1.8% excluding the impact of lower pass-through revenues, and 1.0% internationally.

Operating Results
Operating income in the second quarter of 2017 was $206.5 million, compared to $224.3 million in 2016. Operating margin was 11.0% for the second quarter of 2017, compared to 11.7% in 2016.
For the first half of 2017, operating income was $236.2 million, compared to operating income of $247.3 million in 2016. Operating margin was 6.5% for the first half of 2017, compared to 6.8% for the first half of 2016.


Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax