Global advertising group IPG posted organic growth of 7.9% for the June quarter and upgraded its 2022 forecast despite “macroeconomic and geopolitical uncertainty”.
Net revenue was up 4.7% to $2.38 billion, beating analyst estimates.
In the regions, growth was reported to be "strong" in Australia, Singapore, India and Japan.
IPG upgraded its full year growth outlook to 6.5% from 6%.
The company is the third advertising holding company, following Publicis and Omnicom, to lift full year forecasts even with an uncertain global economic outlook.
IPG will "stay very close to our clients and our people just to be in position to respond as required if there are unforeseen developments".
CEO Philippe Krakowsky: "We are pleased to report a strong second quarter and first-half, in which we continued to build on our industry-leading performance over a period of many years. Growth in the quarter was broad-based across world regions, client sectors and our operating units.
“A differentiator of our performance has been our ability to bring together creativity, digital technology and data to create marketing solutions that are responsive to the evolving business transformation needs of our clients.
“Our growth is largely driven by these highly relevant capabilities, with which we are solving for an expanding set of marketer needs for more precise, personalised, and accountable engagements at an individual level, with respect for data ethics and compliance.
“Like all companies, as we look ahead we are facing a period of macroeconomic and geopolitical uncertainty, and the limited visibility that comes with such an environment.”
“We will stay close to and support our people and our clients, remain disciplined in managing our operations, and maintain the strength of our balance sheet.
“The skill and commitment of our IPG colleagues have helped us to reach the halfway point of the year on strong footing. I’d like to recognse and thank our people for their work, on behalf of clients and in support of each other, as well as their engagement on vital societal issues consistent with our culture and our values.”
The Q2 numbers:
And organic revenue by region:
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