Interpublic Group Q4 Profit Surges

(RTTNews) - Interpublic Group of Companies Inc. (IPG) Thursday reported a surge in fourth-quarter earnings, supported by 11.6 percent growth in revenue.

The company reported quarterly profit attributable to IPG of $357.9 million or $0.90 per share from $112.3 million or $0.28 per share last year.

On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.81 per share. Analysts estimates usually exclude special items.

Net revenue for the quarter increased to $2.548 billion from $2.284 billion a year ago. Wall Street was looking for revenue of $2.51 billion.

Looking ahead the company expects significant operating momentum and positioning for future success. For the full year 2022, IPG expects organic growth of 5 percent. The board approved 7 percent increase in quarterly dividend and reauthorized share repurchase programe.