IPG earnings: Organic revenue growth in Interpublic Group’s Constituency Management Group, which contains several of its PR firms as well as other marketing agencies, was 0.6% in the first quarter to $292.7 million. The holding company as a whole reported organic net revenue growth of 3.6% in the quarter, including 4.3% in the U.S., to $1.8 billion. IPG also posted operating income of $38.8 million and a net loss of $16.1 million.
New from PRWeek this morning: Executive changes and a merger at Porta. The group’s CEO, Steffan Williams, will step down as it merges Redleaf and Newgate. Emma Kane and Brian Tyson, respective leaders from the two firms, will be promoted to joint CEO.
The morning’s big news: The leaders of North and South Korea have pledged to work to end the war between the two countries and denuclearize the Korean Peninsula (ABC News). After an early morning tweet feigning disbelief at former FBI Director James Comey, President Donald Trump tweeted rather cautiously about the historic events.
Amazon posted another impressive quarterly earnings statement on Thursday. The ecommercent giant saw sales of advertising services and other service offerings increase 132% in the first quarter to $2 billion. EMarketer has predicted the company will be the third-largest U.S. digital ad seller after Google and Facebook in two years (Campaign).
Starbucks CEO Kevin Johnson said Thursday that he’s "personally committed" to preventing another racial bias incident at a store (Wall Street Journal). Starbucks said the incident, in which police were called on two black customers in Philadelphia, has not affected sales (CNN). Shares of Starbucks were down after hours on less-than-hoped-for sales (CNBC).