Publicis lifts full-year revenue outlook
By Michele Maatouk
Date: Thursday 17 Oct 2024
(Sharecast News) - French advertising group Publicis lifted its full-year organic revenue forecast on Thursday despite a "challenging" macro environment, as it reported a jump in third-quarter revenues.
The company said net revenue for the third quarter was €3.42bn, with organic growth of 5.8%.
Publicis now expects organic growth of 5.5% for the full year, up from previous guidance of 5% growth.
Chairman and chief executive Arthur Sadoun said: "Once again, we were able to gain market share by capturing a disproportionate amount of client demand for personalisation at scale, with our combined media and Epsilon activities growing at almost +10%. All of our regions delivered strongly, with the US at +4%, Europe at +4.9% and APAC at +6.4%, with China accelerating to +12.4%.
"The strength of our model is also reflected in our net new business performance. Not only have we topped new business league table since the beginning of 2024, for the fifth year in a row we also led the ranking in Q3 which was very active quarter when it comes to pitch activity.
"Despite an increasingly challenging macroeconomic environment, we expect to sustain our momentum in Q4. We are in a position to upgrade our organic growth guidance for the full year. This means that we should outperform the industry by close to 400 basis points on average in 2024."
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