The Week: City News - IPG posts revenue decrease

Interpublic reported a 5.6 per cent organic revenue decrease for the first quarter of the year, while revenue for the period dropped to $1.33 billion compared with $1.49 billion for the same period a year ago.

First-quarter operating loss was $81.9 million as Michael Roth, the IPG chairman and chief executive, declared: "We've continued to see the significant effect that the global recession is having on demand for marketing services." Excluding severance costs, operating performance in the first quarter was in line with the same period in 2008, Roth added.