IPG reports YoY decline in revenue, CEO highlights ‘softness’ from marketers in technology sector

Kalila Welch

May 1, 2023 8:01

IPG has released its Q1 results for 2023, reporting total revenue of US$2.521 billion (A$3.809) and net revenue of US$2.177 (A$3.291) with a decline in organic growth of 0.2% YoY.

The results were significantly lower than the strong start the holding company had to the year in 2022, with CEO Philippe Krakowsky asserting that IPG’s “strong growth” in “media, healthcare and data-informed practices” was “offset” by “certain areas of softness, notably among marketers in the technology sector”.

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Kalila Welch

Kalila Welch joined the Mumbrella editorial team in November 2021. She took a brief career break in mid 2023 to complete her Masters of Journalism before returning to Mumbrella for a year.

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