Boston, MA 04/23/2014 (wallstreetpr) – Global Advertising and Marketing giant, Interpublic Group of Companies Inc. (NYSE:IPG), continues to surge in the market after posting better than expected results for the first quarter. Strong results for the quarter were heavily driven by growth in revenue as well as earning’s performance of various key segments. The company continues to make impressive strides of growth in key markets such as the U.S, Latin America and Asia.
Interpublic Group of Companies Set for Growth
The company’s ability to deliver top notch customized integrated service offerings continue to be a key differentiator in the ever competitive market. The company’s management team believe the company is well positioned to meet or exceed 2014 organic growth that has been set at between 3-4% with an operating margin of 10.3%.
Interpublic Group of Companies Inc. (NYSE:IPG) saw its net loss for the quarter clock in at $20.9 million against a net loss of 459.2 million reported for the same period in 2013. Higher operating expenses had a greater say on the company’s results for the first quarter.
Organic growth continues to have a greater impact on the company’s net revenue which was up by 6.1% to a high of $1637.5 million. Despite the growth in this segment, foreign currency translations continue to greatly affect the company’s total revenue. The quarterly revenues were consequently up, beating Zack’s consensus estimates of $1,601 million.
Organic revenues for the quarter were up by 6.6% with the impact of net acquisitions coming in at 0.9. Foreign currency translations affected net revenues by 1.4%. Operating loss for the quarter was down to $11.7 million down from a high of $42.4 million reported in 2013.
Interpublic Group of Companies Inc. (NYSE:IPG)’s cash, cash equivalent and marketable securities as of March 31, 2014 stood at $777 million against a high of $1.64 billion as of December 31, 2013. Total debt remains unchanged at $1.66 billion.