Publicis Groupe, the Paris-based global advertising company, reported third quarter organic growth at a better than expected -5.6%, ahead of forecasts of -10%.
The US led the group's results with organic growth at -2.4%, better than market forecasts at -7%. The region represents 60% of Publicis business.
“For the second quarter in a row, we are confirming that we have strong foundations to weather these unprecedented times,” says CEO Arthur Sadoun.
“Thanks to our model, we are mitigating the revenue decline we are experiencing due to the pandemic.
“As our clients continue to accelerate their investment into digital channels, e-commerce and direct-to-consumer, we are able to capture part of that shift thanks to our offer combining our leadership in creative and media, with unrivalled capabilities in Epsilon and Publicis Sapient.”
Net revenue in the first nine months of 2020 was up 2.7% to 7,117 million euros compared to 6,929 million euros in the same period in 2019.
Organic growth was -7.2% over the nine months. Europe was at -14.1%, North America -3.4%, Asia Pacific -5.9%. Latin America -15.4% and Middle East and Africa -11.5.%.
Outlook: “The relatively solid business trends that the Groupe has demonstrated year-to-date should continue until year-end. However, with the current resurgence of the pandemic and the restrictions imposed, the Groupe remains cautious about Q4, which might be impacted further and come below Q3.”
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