RTTNews | Jul 21, 2021 09:56AM EDT

09:55 Wednesday, July 21, 2021 (RTTNews.com) - Shares of advertising and marketing services provider The Interpublic Group of Companies, Inc. (IPG) are climbing more than 12% Wednesday morning after reporting better-than-expected second-quarter results.

The company reported second-quarter net income available to IPG common stockholders of $263.3 million or $0.66 per share compared with net loss of $45.6 million or $0.12 per share in the same quarter a year ago.

Excluding items, earnings were $0.70 per diluted share, that beat the average estimate of analysts polled by Thomson Reuters at $0.42 per share.

Net revenue for the quarter increased 22.5% year-over-year to $2.269 billion. The consensus estimate was for $2.08 billion.

"Predicated on continued progress on public health issues, we believe we can deliver organic growth for the full year of 9%-10%, and, with that level of growth, we would expect to achieve 2021 adjusted EBITA margin of approximately 16.0%. As such, we see this as another year of strong value creation for all of our stakeholders," said Philippe Krakowsky, CEO of IPG.

IPG touched a new high of $35.38 this morning.

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