John. Thanks,
we we revenue margin. expectations year, growth for on are As you with quarter and both heard, just track solid first-half operating and a had our of and the
more up income our Reported detail on second revenue Starting into statement X.X% by in net operating go by operating was and the Let's X.X% now slide diluted organically. and income on on reported for X.X% basis. QX our and with Reported share by reported some quarter margin income was QX results. per the XX.X%. three, summary increased a by X.X% X.X% increased increased earnings
million disposition our in recognized million our discipline. research businesses, on a incurred approximately to related repositioning severance. and And the costs quarter, we the execution of included which of During approximately we of also support $XX gain were $XX.X
the slide pretax which few review the included have in our these $X.X items. our non-GAAP two minutes. from million analysis results summarizes We reported also alongside which exclude a adjusted deck, that impact of in results, We'll net nine
four. turn Let's on now revenues to slide
the only X.X%, brings in rate QX quarter and X.X%. businesses. impact where and stay And currency for they translation to XXXX. disposition for rates compared the we revenue close primarily to our are QX second organic in of translation X% X.X%, a estimate our foreign growth be currently, year-to-date impact will research QX of year. reported by QX of organic X.X% approximately The The was a currency X.X%, was the reflecting if of acquisition reduced sale-in reduction Our to from flat over and foreign benefit which the growth negative of revenue impact
completed somewhat. acquisitions will for reduction balance the of We similar had expect a we X.X% this moderate recently the year, although of
growth revenue organic let's to turn review our slide to five discipline. Now by
X.X% the strength During especially business. media, and the ‘XX similar our in those quarter, clients, industries, and growth, become telecom tech tech off QX by certainly advertising, second of part a strong marketing XX% agencies. driven Precision spending more This transformation to media in and our grew X.X%, consulting comp in business with growth year. have reflects the as cautious coming also in reflected posted last their
expect We expect this accelerate our investments discipline growth benefit in future. naturally to discipline will in the and this AI we in generative
particular, driven categories. by revenue clients Commerce election some was the branding comp agencies. a year. benefit as our in which for and fell Execution of relations Europe that XX% support X.X%, QX, due the consulting strong consulting by flat and declines driven cycle reflected coming in in wasn't X.X%, luxury Public China was and as in merchandising and primarily results U.S. grew last design our year, present in X.X%, off agencies. this France marketing to growth Experiential brand primarily from field revenue the automotive by and well and growth
and X% good time. Finally, healthcare our solid this was for very over performance remains outlook at discipline
comps, organically to once Notably, six, lockdowns to XXXX. in growth of grew was Pacific, again of strong QX Asia by region which we benefit the led in the Turning had every in due there easier slide globally. China,
we at Looking and beverage, industry lower high relative of automotive, seven. in by weights to health telecom. stable. revenue a and Compared the quarter second food on relatively in XXXX, Other had technology and offset and categories relative by slide weights the were pharma, sector
percentage mix. as on is Turning driven you Slide costs reductions eight, which Salary-related of down XX some actions and to again revenues dollar the our also expenses our our operating view global these constant service saw shows slide repositioning changes of levels. in expense more granular by basis. Expense Detail, We see of through year-over-year. can our Operating appendix were a in a employee
providing Third-party of service an our and costs as costs events. principal on when our service act in revenue, clients costs include increased are we to due part to and we in integral particularly media These our organic profit offering in them. clients. proprietary generated an services third-party increase supplier They to
a profit. decreased client clients prior quarter, compared of last separately out primarily costs to back These that costs our breaking began consist the and slightly bit related of cost in Occupancy pocket revenue. at we at incidental but which no costs, a travel we other incidental to as were and costs up terms, flat Third-party year. of out percentage directly dollar build
quarter, occupancy of last fees. real we levels estate a dollar offset both to with in revenue, from our professional by in of decreased terms percentage and discussed first increased quarter lower lower expenses reductions of As primarily portfolio as saw due work office associated XXXX. costs SG&A the in higher rent the in
Now let's nine. turn slide to
clear earlier, XXth. for the both and adjusted is three a presentation and I results our mentioned non-GAAP this which six ended months summarizes reported June As
pretax. XXXX in amounts a the include of million net as to severance adjusted or non-GAAP second our as the related million the of research impact a well gain businesses, of reminder, of $XX on approximately of costs quarter repositioning $XX.X a disposition million approximately $X.X As
reported to the income with both XXXX. up adjusted XX.X% and basis a were Operating operating margin X.X% close related which basis margins up points were and a The of XX.X%, of second income income was operating from on the XX.X% on of non-GAAP XX basis. quarter respectively flat
expected the comfortable full-year, we're of between XX.X%. the For and of our margin range with XX% operating income
of QX higher $XX.X reduction in of was higher million in the of primarily given place expense for short-term a million interest from quarter, income, of compared interest levels XXXX, $XX.X were to comparable XXXX. rates investing the second-half Net
second-half second-half The expense net XXXX, be interest of XXXX. flat that the to will we relative to up of expect slightly
related income in and repositioning a reported rate, adjusted by non-GAAP of by adjusted rate XX%. the the We balance the XX% was increased Reported expect income XX.X%. for rate the X.X%, income X.X%. The year. was net net excluding increased of gain, Our non-GAAP tax costs, still the taxes tax and QX
and Year-to-date in on per adjusted was basis. non-GAAP up diluted reported and by share repurchases. up X.X% Our adjusted also share on shares diluted was lower earnings This EPS reported driven is X.X% outstanding up on a resulting basis. XX.X% EPS up basis a non-GAAP X.X% growth diluted a
cash cash activities, our XXXX expect XX.X% XX in provided year. far capital, cash by for neutral this year. Slide we increase the million, the as last so operating historically free of cash shows define flow net flow flow Free We which for from to $XXX changes be an was performance operating excluding of second quarter year.
of cash, of cash $XX shareholders to uses $XXX pay shareholders. to interest non-controlling dividends another our Regarding million dividends we and million used for to common
Our million. dispositions amount capital proceeds A expenditures year-to-date in of continued million. Acquisition $XX from stock quarter, $XXX net stock our to were activity, plans, bringing from repurchase million. $XXX million, net the $XX were payments approximately proceeds excluding of second
debt XXXX, the were in outstanding value quarter outstanding maturities. other debt of Slide foreign the exchange than balances summary $X.X XX during billion. changes the end second is of book a and the our liquidity, quarter was of There translations. no credit, of At
which Our U.S. revolving our equivalents credit billion $X.X $X and were $X.X paper remains our billion undrawn cash billion. investments commercial program, facility, backstops short-term and
debt until maturity XXXX. is next November Our of not
XXth on capital historical of a return business ended returns key XX%. These for XX-months strength invested on capital generated reflection June a Slide structure. of XX% are return metrics metrics We two a of our the conservative XXXX. XX presents and our equity of and our strong on the
summary the partnership our is announcements. XX all Slide technology recent of
largely services reflected in our income. business operating that development our As are the Omni, technology for our a future historical current reminder, in our prepare of and investments
expect We prepare a our while future. to through manage dynamic grow to dividends continue continue and operations, cash shareholders share environment. And current the we our to improve John revenues, return discussed, for repurchases, to with economic as
please Operator, lines up open question-and-answers. the for you. Thank
