good Thanks John, morning. and
the felt As John of impact discussed pandemic in significantly globe, the return in the his continues moderated QX. our to evidenced growth by be to across remarks, as while that impact has
represents will uncertainty spending as in our could long We conditions expect of continue performance growth health to will second return economic pandemic QX a revenue regarding COVID-XX to may the the XXXX, a remains businesses and million, our which when and $XXX which however, vary XX% the as reflected of XX.X% threat, some was half; clients’ the by million. our increase for continue public significant impact which plans of Organic $XXX by or onset growth the geography declined quarter or discipline. compared
year. addition, Icon, impact strategic against material early operating dollar X.X%, we for to to higher we business, exchange on performance completed specialty for of in X of for acquisitions of larger revenue continued quarter revenue disposition the by as our X.X% In our sale foreign XX.X% entering the of by to quarter, which the disposition compared organic our million. have Flipping addition summary from than our second in weaken income Icon. to with XXXX. our rates the in consistent in of increased dispositions net Slide currencies for is our and not of the to impact anticipated The $XX.X to most the a revenue the a prior plan The Icon primarily revenue sale the priorities quarter, our pre-tax impact of quarter, the revenue on related expected investment of the growth ongoing decreased a June was gain resulted and of media
second the reported the for our details I’ll revenue in changes few result, $X.X revenue in return $X.XX of QX XXXX. reported the minutes. a of a in increased XX.X% billion discuss billion from to As the quarter to
to our $XX.X profit $XXX a of back including million, Slide the for million quarter X, Turning on operating to reported sale the increased gain Icon.
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Our reported margin quarter EBITDA million EBITDA for the XX.X%. and was $XXX was
dollars presentation, year-on-year details slide supplemental that our gain also disposition, XX EBITDA present FX was Icon to presented the QX for XX.X%. $XX.X $XXX operating Excluding changes. back charge of margin Slide exclude the XX.X%. we the margin On XXXX amounts Page of after million in investor the XXXX XXXX repositioning million adding our was constant on shows the expenses. on effects of a EBITDA We’ve QX X the of included in
with aligned previously, As current our manage to and we’ve actively are will they ensure continue we costs to have discussed our revenues.
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our They constant activity. that government note and revenue. salary by also with $XXX costs million. are $XX.X our on of overall driven by about were the service would reduced programs reimbursements $XXX by a QX basis variable details, of QX the We dollar increase for XXXX, or fluctuate cost million amounts XXXX versus increased and million from the in received business and service salary As
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expense interest the redemption Gross no XXXX the we the resulting and early April redeem XXXX quarter depreciation May working our million, of revolving increased added XXXX. notes loss by period million we Finally, facility plus determined in when In credit we XXX-day the Net performance April billion were of quarter flow of the XXXX. million. June, $XX.X insurance expired $X.X notes of over notes to XXXX In and second credit in cash period all we cash declined early QX added expense million the in longer that the second during on used due In the senior liquidity million pandemic debt in and XXXX from XXXX, X.X% all $XXX $X.X solid early to issued amortization $XX.X needed recognized outstanding senior the of million. from of the $XX.X we issued of proceeds X.X% $X.XX period, in increased notes. a X.XXX% of million, our billion outstanding capital unused. facility. we on issuance $XXX in interest due May, of hand we X.XXX% $XXX Because
the refinancing the year. compared is of half second on ratio debt and XX, activity Interest of in $X interest in the the to leverage quarter at of income to second times XXXX, relatively reduced was our lower our impact result prior this as to approximately Additionally, XXXX million expected June flat. X.X in expense
bit Our book effective of effective quarter for due nominal rate the we of to was for to marginally on negative sale. the tax to down to of primarily the XX.X%, our tax the second million. our rate of quarter taxes XXXX XX.X% recorded allocation on was a for gain certain from minority between XX%, from while the shareholders Earnings $XX.X earnings agencies affiliates increased estimated
million. the As income reported for $XXX.X a result, second was net quarter
While our our from million XXX.X our last in during share increased included quarter, increase increase share equivalents repurchase diluted the share count for count. the common stock we price versus resulting quarter year-over-year program and in to slightly restarted QX the shares our second diluted of year the in share
resulted our result, in for quarter of the income, and notes increase of million on the loss $XX QX to we reported the the of senior in EPS. share a sale on loss As EPS to $X.XX net $X.XX second the $X.XX was net of diluted Icon XXXX gain the or of versus a early per The redemption XXXX.
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$XXX to quarter returning or changes XXXX. up of on X, the $X.XX the of Slide XX.X% revenue from Now reported million was details revenue billion, in performance our QX second the for
the the quarter, the and reported a third net resulting and XX quarter. the X%. in full or of X% X.X%. the of of Turning impact of basis impact activities to XXXX, in weakening fourth most our approximately reported X.X% strengthening revenue third quarter our transactions as the FX to approximately the estimated million, the for yen quarter, through In XXXX year dollar our been for Areteans of rates of foreign Australian X.X% ruble. widespread compared In well primarily only foreign of revenue will by the was currencies. The our in our increase Based is were the the quarter above XXXX, increases for X% full reduction strengthening have increase the which between our XX second million currencies year U.S. the the major dollar was the X% in dollar. largest and $XX is X.X%. increase rates Chinese over the against the decrease the balance the June activity during the reflecting included strengthened revenues the currently to a U.S. to entering yuan, dollar of months acquisition past and Archbow Japanese could disposition a on year exchange $XXX.X and X% dollar Russian of Icon In of disposition estimate or that the decrease quarter, driven our the estimate by quarter, increase the of a on and the FX as light in assuming approximately completed quarters, impacts, largest foreign British fourth projected impact of year-over-year disposition X.X% for acquisition where we of revenue the by The that FX by against FX recent they stand, resulting resulted continue euro, and acquisitions of net U.S. pound, the the that the and of
businesses we portfolio to of complete. with our regard our said dispositions, part While John are substantially of of strategic we evaluating will as planning, has as continue process our
all quarter of major our reflects performance across growth million $XXX disciplines. our of across XX.X% organic the Our or in of and second geographic markets all strong service
to marketing for on was Turning split for discipline our the and second Page the XX% for advertising of quarter mix XX% business X, services. by
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was Our positive the advertising quarter. discipline for
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up levels which Middle related was lodging revenue our of travel entertainment relatively Slide travel and was our stable. information X, The entertainment overall and we industry revenue by across XXXX category, improvement by the clients. present seen of in basis. year-to-date to the We’ve by over continued XX% spend reduced East QX clients mitigated spend many activity from Lastly, industries mix and on with in industry Africa the a of for quarter. by performance On the boosted sector remaining increased in most
to working first six capital, changes cash half excluding year. last months nearly Slide million of free $XXX flow the our million of of versus first can cash we generated over the that up you the in $XX year X Turning performance, flow, on see
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a we $XXX cash the our the our generate of As able during were of use efforts half year. continuing of cash, first million flow prudently result the to free to manage of
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was in debt balance period increase million In the the date. only LTM U.S. sheet the $XXX meaningful euro-dominated balance of refinancing, of addition of into to to impact for FX $XX the reduction from resulting change an the €X borrowings our net net from converting dollars the the million other approximately at billion
billion last when but net year-end net a as free capital of $XXX ago. of XX that the year-end which down position million where up The million in over year. stood by $XXX $X.X generated from of half under we first of the we occur debt result was billion, uses Our debt of working the compared the months $X.X first in was the half the since totaling offset year, in to was cash XX million, increase about June $XXX partially flow typical just
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As total of and we’ve refinancing activity, X.X net recent to result debt times reduced to QX to EBITDA X.X improvement ratio our XXXX versus for our as of our our a EBITDA debt times. operating our to overall debt ratio ratios, and
of ratio activity, X.X result versus our and a to to reduced ratio operating As total of EBITDA our XXXX we EBITDA our times. recent have and our X.X to times net QX improvement debt refinancing debt overall to
to included our returns than going XX.X% questions. was return our materials XX we prepared for several slides point, our ratio Finally, ago. note returns moving ask XX while in to you. That return have of supplemental Please remarks. months months we Operator presentation was on the Page At our both to are the review. capital historical on this call XX.X%, your Thank invested the for significantly equity XX, from our that concludes the on our open last better
