Ad agency network MDC Partners called its financial performance for the first half of 2018 poor in an earnings call today but sounded more optimistic about the last six months of the fiscal year.
Executives focused on several recent moves to reduce costs and improve efficiency, along with major hires including, most prominently, that of CP+B co-founder Alex Bogusky.
Overall revenue for the second quarter fell 2.8 percent year over yearfrom $390.5 million in 2017 to $379.7 million this yearwhile organic revenue was down 1.7 percent.
EBITDA also went from $47 million to $43 million.
CEO Scott Kauffman opened the call by saying the quarter continued to be challenging, as expected thanks to headwinds created by a prolonged new busines…
Read the full article at: https://www.adweek.com/agencies/mdc-partners-cites-poor-first-half-results-and-promises-to-reduce-costs-on-earnings-call/