IPG Shares Sell Off After 3Q Results and Lowered Guidance; Shares Remain Undervalued
The Interpublic Group’s third-quarter revenue came in below consensus and slightly lower than our projections due to lack of growth in Asia-Pacific and Latin America and higher-than-expected agency dispositions. The company also lowered its full-year 2017 top- and bottom-line forecasts. While IPG’s overall organic revenue growth only marginally improved from the previous quarter, it did indicate a return to solid growth in developed markets such as the U.S. and Europe. In addition, operating mar...
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