The Interpublic Group of Companies Inc. (IPG) reported first quarter results today. The holding company is still losing money — $64.6 million in Q1 — albeit slightly less than they lost last time this year — $67 million. Q1 2010 revenue was $1.34 billion, compared to $1.33 billion in Q1 of 2009.
IPG’s Constituency Management Group (CMG), which houses Golin Harris, MWW Group and Weber Shandwick, had revenues of $221.8 million, a 5.4% increase from Q1 2009.
Specifically, revenue from PR holdings within CMG were up about 6.4%, Weber Shandwick and CMG CEO Harris Diamond told PRNewser in a phone interview today.
“We have clearly seen in the first quarter a pick-up, specifically here in the U.S. Frankly, Europe is still a problem. Asia is stable. In the U.S., it was a very good quarter,” he said.
Diamond said the greatest growth came from existing clients. “It wasn’t like any one client single-handedly drove business. We saw clients expanding their relationships with us.”
The CMG Group saw a 6.5% revenue decline in Q1 2009, compared to a 14% decline in Q3 2009.