Publicis Groupe is confident about its path forward, despite economic uncertainty, due to its better-than-expected Q2 financial results.

Organic revenue grew by 7.1% year-over-year during the three months ended June 30.

Data division Epsilon grew by 6.8% and digital transformation consultancy Publicis.Sapient by 5.5%, despite comparisons to strong year-ago quarters. Media had double-digit organic revenue growth, with Creative organic growth in the low single digits. The company pointed out that this gives it a “uniquely balanced” revenue mix, with Creative, Media and Data & Tech each representing roughly one third of total revenue.

The big story Publicis wants to tell in Q2 is its performance relative to its competitors, claiming revenue and other financial measures are out-performing other major holding companies so far in 2023. In addition, since the company reorganized as a “transformation partner” for clients in 2019, Publicis’ reported net revenue is up 45%. Arthur Sadoun, chairman and CEO of Publicis Groupe, said the company’s strength in data and technology, combined with creativity and media, makes it “uniquely positioned to lead the future of our industry.”

“But Publicis is not only future-proof,” he said. “It is also more resilient to business cycles, allowing us to upgrade our guidance on all KPIs for the year despite persistent macroeconomic uncertainty.” Publicis Groupe now expects its full-year organic growth to be above 5%.

Geographically, North America had 4.9% organic growth, driven by – like the rest of the company – strong growth in Media and Data & Tech. In particular, Epsilon’s digital media work is outperforming other divisions, while 5.1% growth at Publicis.Sapient was “solid” given slower decision-making processes in the current economic environment. Creative revenue was described as “stable,” with some expected pull-back in traditional advertising.

Personnel costs at Publicis Groupe have also increased by 8% so far this year, roughly in line with the company’s revenue growth. Personnel costs as a percentage of revenue have remained relatively stable year-over-year. While the company is now employing fewer freelancers globally, associated cost savings have been partially offset by an increase in restructuring charges.