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Benzinga
Benzinga
Business
Anusuya Lahiri

Why Interpublic Group Shares Are Plunging Today

  • The Interpublic Group of Companies Inc (NYSE:IPGreported fourth-quarter FY21 net revenue growth of 11.6% year-on-year, to $2.55 billion, beating the consensus of $2.51 billion.
  • Total revenue, including billable expenses, summed $2.93 billion, against $2.55 billion last year.
  • Organic net revenue growth was 11.7% versus last year. Organic net revenue increased 12.1% in the U.S. and 11% internationally.
  • Operating income was $457.3 million against $223.4 million in Q4 FY20.
  • Adjusted EPS of $0.82 beat the consensus of $0.81.
  • Interpublic held cash and equivalents of $3.27 billion.
  • Share Buyback & Dividend: The board reapproved a share buyback of up to $400 million. The board raised the quarterly dividend by 7.4% to $0.29.
  • Price action: IPG shares are trading lower by 9.38% at $35.74 in the market on the last check Thursday.
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