New York-based The Interpublic Group of Companies, Inc. IPG is the third largest advertising company in the world. IPG has made a name for itself with its digital capabilities, diversified business model and geographic reach.However, IPG forms an integral part of the communications industry, which is highly competitive in nature and is susceptible to market risks of losing contracts related to media purchases and production costs. With intensifying competition for ad dollars and adverse currency translation effects gradually shrinking margins, investors have been eagerly waiting for the company’s latest earnings report.In the last four trailing quarters, IPG has managed to beat estimates all four times, registering a positive average earnings surprise of 31.59%.Currently, IPG has a Zacks Rank #2 (Buy), but that could definitely change following latest earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:Earnings: IPG comfortably beat on earnings. The Zacks Consensus Estimate called for a loss of 1 cent, while the company reported adjusted EPS of a penny.Revenue: Revenues beat, as IPG reported revenues of $1,742 million, compared to Zacks Consensus Estimate of $1,703 million.Key Stats to Note: IPG achieved healthy organic growth of 6.7% in the reported quarter. During the reported quarter, the company repurchased 2.5 million shares of its shares worth $53.7.For the first quarter, the company declared and paid a cash dividend of 15 cents per share, for a total of $59.9 million.Stock Price: Shares did not show any change in the pre-market trading following the release at the time of this write-up.Check back our full write up on this IPG earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report INTERPUBLIC GRP (IPG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research