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Publicis Groupe's Q3 organic revenues dropped 2.7 percent as the French ad/PR combine turned in a worse than anticipated performance.
CEO Arthur Sadoun doesn't expect much relief ahead as he lowered full-year revenue guidance to a 2.5 percent decline.
He blamed Q3's downbeat results on technology transformation costs, "cuts from a handful of clients on traditional advertising mainly in the US" and "softer than expected" results in media operations.
He said Publicis is streamling and simplifying its organization to seamlessly connect creativity, media, data and technology.
The firm is willing to accept short-term financial pain to be better prepared for the future, according to Sadoun.
"We have taken the tough but necessary decisions needed to tackle the industry challenges we are facing head- on," said Sadoun in a statment. "We are without a doubt at the hardest part yet of our journey and as is the case with any major structural change, things always get worse before they get better."
WPP tops the Financial Times’ list of the biggest stock market losers for 2025. The share price of the owner of Burson and Ogilvy has plummeted 60 percent so far this year.
FTI Consulting handles media for Modivcare Inc., the Denver-based provider of non-emergency healthcare services. as a Texas federal bankruptcy court confirms its Chapter 11 restructuring plan.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
