Interpublic Group, home to Weber Shandwick, GolinHarris, and other PR and advertising agencies, reported first quarter revenue of $1.51 billion, an increase from $1.47 billion in 2011. Organic growth was 2.8 percent.
The company’s operating loss was $39.4 million, a decrease year-over-year from $45.3 million, showing improvement. Net loss was $45.9 million versus $48.1 million in 2011. The Wall Street Journal reports that ”in February Standard & Poor’s raised its rating outlook on Interpublic to positive from stable, citing the company’s progress toward improving profitability and credit metrics.”
Harris Diamond, the CEO of IPG’s Constituency Management Group (CMG), housing the company’s PR firms, says its figures were strong with organic revenue at 8.6 percent and overall growth at 10 percent.