With the positive result, the holding company expects to have an organic growth of 6% in the whole year
The IPG saw growth of nearly 10% in the first quarter of 2022, resulting in net revenue of $2.23 billion, up 9.8% over the same period in 2021.
The holding company’s growth rate increased in all regions. In the US, which accounted for 66% of net revenue in the quarter, organic net revenue grew 12.2% and in international markets, representing 34% of revenue in the quarter, it grew 10.2%.
As reported by Campaing, Philippe Krakowsky, CEO of IPG, told investors on an earnings call on Thursday that the growth was led by clients in the leisure, government and industrial sectors.
The holding company also recorded double-digit growth among customers in retail, technology and telecommunications, financial services, healthcare and automobiles and transportation.
Krakowsky also said that, in general, clients have not reduced their ad spend despite the uncertain geopolitical climate and that, even though the company has suspended its operations in Russia, there was no drop in the quarter in the Eastern European markets.
The results put IPG in line with Omnicom, WPP and Publicis, which posted double-digit growth in the first quarter, prompting the holding company to raise its full-year forecast from 5% to 6% organic growth.
