Ad holding company Interpublic (NYSE: IPG) said Q2 profits rose 108.5, coming in at $137 million over $65.7 million in net income last year. Revenues for Interpublic, which runs ad agencies such as McCann Erickson, Lowe Worldwide, Magna Global and Initiative, were up 7.8 percent to $1.65 billion compared to $1.53 billion. Other items in the Q2 report included:
— Operating expenses related to salaries and related costs were $1.01 billion, up 6.8 percent over Q206. The increase was attributed to efforts on building up its digital and marketing services businesses.
— For H107, Interpublic’s revenue was $3.01 billion, a gain of 5.3 percent compared to the first half of last year.
— Operating income in Q2 was $145.6 million, compared to $76.9 million in 2006 – a rise of 89.3 percent. For H107, operating income was $21.4 million, compared to a loss of $82.7 million during the same period last year. Earnings release | Webcast (8:30 a.m. EDT)
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