WPP and Interpublic Report Strong First Quarter

WPP says media continues to 'bite-back'

WPP and Interpublic have both reported strong first quarter results, according to MediaPost.

WPP stated that its "reported" revenues were up 7.0% and its "like-for-like" rose 6.7% from the same time last year. Interpublic reported its total revenue was up 10.3% and organic up 9.3%. WPP cited a media "bite-back," alluding to the fact that media and ad services are benefiting from a rebound in spending.

WPP is currently reviewing and revising its forcasts, with early indicators projecting over 6% growth, higher than originally budgeted.