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