Shares of the New York-based company fell over 3% in premarket trading. Interpublic's results fan fears that the slump in the ad market will persist as...
- Advertising group Interpublic missed Wall Street expectations for third-quarter revenue on Tuesday, hit by the continued slump in ad spending across major markets like the United States. Interpublic 's results fan fears that the slump in the ad market will persist as marketers withhold spending on projects due to high interest rates and economic uncertainty .
Interpublic said in July that its clients in certain businesses are taking longer to make decisions over macroeconomic concerns. The company reaffirmed its target of achieving organic growth of 1% for the year, after tightening its forecast in July. Adjusted earnings per share of 70 cents in the reported quarter came in line with analysts expectations.Q3 2024 W R Berkley Corp Earnings CallConestoga Capital Advisors, an asset management company, released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. At its September meeting, the Federal Reserve lowered the Federal Funds rate by 50 basis points due to weaker employment growth and moderate inflation.
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