Publicis is reporting 5.3% organic growth in net revenue, topping consensus estimates for Q3.
The Parisian group, which owns Saatchi & Saatchi, Omnicom, Spark, Leo Burnett and others, is reporting “very solid U.S.” growth of +3.2%, as well as “standout performance in Europe at +10.7%.”
Media, one third of revenue, continued to experience “strong new business momentum” while data and tech activities (another third of its revenue) “posted very solid growth overall.”
“Despite a macroeconomic context that became more difficult over the quarter, we delivered strong organic growth of +5.3% in Q3, ahead of expectations,” says Arthur Sadoun, chairman and CEO of Publicis Groupe. “Our media capabilities, which continued to gain market share, and Epsilon’s data offer were the main drivers of this performance, achieving high single-digit and double-digit growth respectively.”
According to Sadoun, its digital transformation consultancy Publicis Sapient continued to grow, and creative “confirmed its resilience once again, in spite of industry-wide cuts to classic advertising activities.”
Its global advertising/tech company, Epsilon, posted double-digit organic growth this quarter on top of +14% in Q3 2022, largely driven by digital media and data divisions.
Publicis also raised its 2023 guidance for organic growth, profitability and cash generation. The company says it now expects organic net revenue growth to be between 5.5% and 6% this year, slightly topping its previous forecast of approximately 5%.
