By Dade Hayes Finance Editor Major ad agency Interpublic reported steady first-quarter results, with adjusted earnings per share beating Wall Street expectations, but the company warned that COVID-19 will likely take a significant toll as the year continues.
First quarter revenue dipped nearly 2% from the year-earlier period to $1.97 billion, roughly in line with analysts’ consensus estimate, with earnings of 11 cents a share topping forecasts by two cents.
Along with Omnicom and WPP, IPG has begun to feel the force of the pandemic, which has already taken an estimated $12 billion out of the U.S.
TV ad business and is prompting a marketing retreat across platforms and global regions. Agencies at least have some maneuverability in this
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