Interpublic Group Q1 Earnings Surpass Street View

Interpublic Group Of Companies Inc IPG reported first-quarter FY22 total revenue growth of 13.8% year-on-year to $2.57 billion and net revenue growth of 9.8% to $2.23 billion, beating the consensus of $2.17 billion.
Selling, administrative, and engineering expenses were $19.3 million versus $28.2 million last year.
Operating income for the quarter rose 1.1% to $245.7 million. Adjusted EBITA before restructuring charges amounted to $273.6 million, with a margin of 12.3% on net revenue.
Adjusted EPS of $0.47 beat the analyst consensus of $0.40.
Total debt was $2.97 billion as of March 31, 2022. Cash and equivalents totaled $2.40 billion.
Outlook: Interpublic raised its FY22 organic revenue growth outlook to 6% from the previous 5%. IPG also reiterated its expectation for an adjusted EBITA margin of 16.6%.
Price Action: IPG shares are trading higher by 0.74% at $34.27 on the last check Thursday.

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