(Boursier.com) — Interpublic , the American advertising group, revealed adjusted revenues of $2.31 billion for its third quarter, an increase of 0.6% year-on-year but an organic decrease of 0.4%. Consolidated net income was $246 million. Adjusted Ebita before restructuring charges reached $397 million. The adjusted EBITA margin before restructuring charges was 17.2% of adjusted revenues. Diluted earnings per share were 63 cents, while adjusted earnings per share were 70 cents. The market consensus was 73 cents in adjusted earnings per share on $2.38 billion in revenue.
“The factors we have identified since the start of the year continued to weigh on our growth during the quarter. These include reduced customer activity in the technology and telecommunications sector which been evident across our industry, as well as the performance of some of our digital specialists. Another factor impacting results is marketers’ increased concern about macroeconomic conditions, which has led to delays in projects and sales cycles, as well as slower than expected integration of some new business. Given the evolving business climate and our portfolio of customers and capabilities, for the remainder of the year , we expect organic growth in the fourth quarter to be around 1%. At the same time, we remain on track to achieve our full-year margin target of 16.7%, which remains unchanged and represents margin expansion compared to 2022″, adds general manager Philippe Krakowsky.
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