Q2 beat and raise
IPG delivered strong Q2 results, dramatically better than the OMC and Publicis numbers reported earlier this month. Organic revenue rose a very strong 5.6% (cons. +3.0%) and the company raised full year guidance to 4-4.5% vs. the high end of 2-3% previously. Year to date organic revenue is up 4.7% which could imply some 2H slowdown but is probably just conservatism. Margin expansion guidance was reiterated at +60-70bp. International organic revenue growth of 7.2% (cons. +3.0%) was the main driver of the beat but domestic was still well ahead at 4.6% (cons. +3.1%).Interpublic Group of Companies is an advertising and marketing services company. The company's segment include: Integrated Agency Networks (IAN) and Constituency Management Group (CMG). Within IAN, the company's agencies provide an array of communications and marketing services, each providing a range of solutions for its clients. In addition, the company's domestic integrated agencies provide a range of advertising, marketing communications services and/or marketing services and partner with its operating divisions as needed. CMG provides clients with services, including public relations, meeting and event production, sports and entertainment marketing, corporate and brand identity, and marketing consulting.
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