IPG revenues up 2.4%

Interpublic Group, the ad network, has reported revenue of $1.36bn (£0.68bn) billion for the first quarter of 2007, up 2.4% compared with the same period last year.

IPG says “organic revenue” grew in both the US and UK markets, but declined across Continental Europe and Asia-Pacific.

IPG’s net first-quarter loss was just under $133m (£66.5m) compared with a net loss of $182m (£91m) the previous year.

IPG chief executive officer and chairman Michael Roth (left) says: “Last year, we reversed a multi-year organic revenue decline and put the company back on a positive organic trajectory. This quarter, we began to build on this accomplishment. Our operating units are focused on delivering integrated and accountable solutions to our clients. We will continue to assist them by developing our talent base and investing in emerging markets and digital capabilities.”

IPG agencies include McCann Erickson, Universal McCann, Lowe, Draft FCB and Initiative.