NEW YORK: The first quarter of 2000 proved a good one for Interpublic and Omnicom, both of which announced strong first-quarter earnings last week.
IPG had net income of 57.1 million dollars, an increase of 27% over the first quarter of 1999. Worldwide revenue was 1.1 billion dollars, an increase of 182 million dollars (up 20% from 1999).
IPG SVP of planning and business development Barry Linsky declined to discuss specifics about the performance of IPG's PR properties, but said, 'They all performed strongly and we were pleased.'
Omnicom experienced 119% growth, fueled mostly by gains from the sale of a portion of the company's ownership in Razorfish. Excluding that, net income increased 22% over the first quarter of 1999 to 79.7 million dollars.
Worldwide revenues from commission and fee income increased 20% to 1.37 billion dollars, up from 1.15 billion dollars last year.