Interpublic Revenue Grows, but Net Income Declines as Europe Underperforms
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Total revenue at Interpublic rose 2.4% to $7.1 billion in 2013, the agency holding company said Friday. Organic revenue grew 2.8%, the company said. Fourth quarter organic revenue grew faster, at a rate of 3.7%.
But net income for the year was $259.2 million, down 40.4% from $435.1 million in 2012. Net income for the fourth quarter fell to $193.1 million, down from $313.3 million in the prior year, amounting to a 38.3% drop.
Interpublic, which owns agency networks like McCann and DraftFCB along with media agencies such as Initiative, is the fourth largest agency holding company by revenue, following WPP, Publicis Groupe and Omnicom. But Publicis and Omnicom are planning to merge, creating a new No. 1 that will last a longer shadow over the rest of the field.
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