Investing.com - IPG reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
IPG announced earnings per share of $0.11 on revenue of $1.97B. Analysts polled by Investing.com anticipated EPS of $0.1 on revenue of $2.02B. That with comparison to EPS of $0.11 on revenue of $2B in the same period a year before.IPG had reported EPS of $0.88 on revenue of $2.43B in the previous quarter.Analysts are expecting EPS of $0.34 and revenue of $1.99B in the upcoming quarter.
IPG shares are down 39% from the beginning of the year and are trading at $14.03 , down-from-52-week-high.They are under-performing the S&P 500 which is down 15.66% year to date.
IPG follows other major Services sector earnings this month
IPG's report follows an earnings missed by AT&T on Wednesday, who reported EPS of $0.84 on revenue of $42.78B, compared to forecasts EPS of $0.85 on revenue of $44.33B.
Netflix had missed expectations on Tuesday with first quarter EPS of $1.57 on revenue of $5.77B, compared to forecast for EPS of $1.63 on revenue of $5.74B.
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