Global economic downturn continues to impact top line revenue, leading to 14.2% organic revenue decrease for the third quarter of 2009 and 11.8% organic decrease year-to-date.
Third quarter 2009 revenue of $1.43 billion, compared to $1.74 billion in the third quarter of 2008, with an organic revenue decrease of 14.2% compared to the prior period.
Nine months 2009 revenue of $4.23 billion, compared to $5.06 billion in 2008, with an organic revenue decrease of 11.8% compared to the prior period.
“During the quarter, the economic downturn continued to weigh on our results. Once again, we demonstrated the ability to effectively manage costs in order to protect margins,” said Michael I. Roth, Interpublic’s Chairman and CEO. “Our professional offerings remain competitive, as evident in recent wins from a broad cross-section of our agencies in a new business environment that has become more active of late. Client sentiment has stabilized, but remains cautious, which makes it difficult to predict what growth will look like in 2010. As a result, we are aligning our cost base against conservative top%