Why Interpublic Group Shares Are Plunging Today

The Interpublic Group of Companies Inc IPG reported fourth-quarter FY21 net revenue growth of 11.6% year-on-year, to $2.55 billion, beating the consensus of $2.51 billion.
Total revenue, including billable expenses, summed $2.93 billion, against $2.55 billion last year.
Organic net revenue growth was 11.7% versus last year. Organic net revenue increased 12.1% in the U.S. and 11% internationally.
Operating income was $457.3 million against $223.4 million in Q4 FY20.
Adjusted EPS of $0.82 beat the consensus of $0.81.
Interpublic held cash and equivalents of $3.27 billion.
Share Buyback & Dividend: The board reapproved a share buyback of up to $400 million. The board raised the quarterly dividend by 7.4% to $0.29.
Price action: IPG shares are trading lower by 9.38% at $35.74 in the market on the last check Thursday.

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