Interpublic’s Losses And Acquistions

Interpublic Group has claimed a net loss of $21.9 million for the third quarter despite a revenue gain of 7 percent compared to the same time last year. AdWeek reports that “the represented a downturn from Q3 2006, when IPG posted net income of $3.7 million. This year’s third-quarter revenue totaled $1.56 billion, up about $11 million from $1.45 billion in the like period last year. Increased operating costs were one factor in the quarterly loss. Salary and related expenses, for example, grew nearly 8 percent in the quarter, to $1.03 billion, IPG said.”

Despite all this, Interpublic has acquired Translation Consulting + Brand Imaging, a branded entertainment agency. Translation, based in New York, performs strategic marketing for young adults and promotional programs pairing Fortune 500 companies with celebrities from the worlds of music, sports, entertainment and fashion. Read More Here.