At the Mid-Year Media Review conference, Interpublic's chief financial officer Sean Orr said that second-quarter revenue was still likely to be lower than for the same period last year, but that the decline would not be as steep as the 13.8% fall in the first quarter.
Despite the positive news, Interpublic, owner of the advertising networks McCann-Erickson Worldwide and Lowe & Partners, saw its share price fall last night, closing 2.67% down at $26.28. Overall, the Dow Jones Advertising Index saw a fall of 2.66%.
Orr said: "We certainly hope revenues will be flat for the year, but that means that second-half revenues would have to show double-digit growth. We'd like to see that but we're not committing to it."
The conference also heard that Interpublic has won $744.6m (拢500m) in new business in the first quarter of the year.
Last month, when the group reported its first-quarter results, Interpublic chairman and CEO John J Dooner said that the firm was seeing growing momentum in the area of new business, where it posted $745m of net wins, up from $223m in the previous quarter.
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