Interpublic Group of Companies Inc. reported a net loss of $16.9 million for the first quarter, down from a net loss of $8.6 million last year.
The advertising agency giant reported revenue of $1.4 billion for the quarter ended March 31, up 6% from $1.3 billion last year.
According to news reports, the loss included $70.2 million in restructuring charges from severance and real estate costs as the New York-based firm pulls together the multiple businesses it acquired in the past 10 years.
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