IPG Publishes Unaudited Interim Results

06 April 2005

In an unprecedented move, beleaguered Interpublic Group, the globe's third largest marketing services holding company, on Tuesday issued a set of draft and unaudited financial results for 2004.

The tentative numbers, filed with the US Securities and Exchange Commission, reveal 2004 revenues of $6.2 billion (€4.83bn; £3.30bn), up year-on-year by 5.8%. However, an operating loss of $285 million is estimated.

IPG warned that these figures - and all other data contained in the filing - are subject to revision in the light of its current internal accounting investigations. It also remained vague as to when it will file audited data.

Wall Street reacted in a surprisingly benign manner to the lackluster preliminary data, perhaps on the basis that unaudited numbers are better than no numbers. Whatever: IPG's share price rose 3.75% to $12.72 by yesterday's close on the NYSE.

Data sourced from AdAge (USA); additional content by WARC staff