 |
| John Wren |
Omnicom CEO John Wren reports Q3 revenues dropped 11.5 percent to $3.2B due to the negative impact of the COVID-19 pandemic. Organic revenues fell 11.7 percent.
The FleishmanHillard, Ketchum, Marina Maher Communications, Porter Novelli, Mercury and Cone spearheaded PR group posted a 4.3 percent dip in Q3 revenues to $322.8M and a 3.4 percent drop on an organic basis.
Wren said travel, lodging, entertainment, energy, oil & gas, non-essential retail and automotive sectors took the hardest hit from the virus.
He added that though healthcare, pharmaceuticals, technology, telecommunications, financial and consumer products areas “fared relatively well to date, conditions are volatile and economic uncertainty cuts across all clients, industries and geographies.”
Looking ahead, Wren said the revenue shortfalls suffered during the Q2 and Q3 are expected to continue through the rest of the year.
That reduced revenue “could adversely impact our ongoing results of operations and financial position and the effects could be material,” he said.
WPP chief Cindy Rose is cutting up to 1,000 jobs by the end of the year, adding to the 11K jobs lost since the start of 2025, according to a report in the Financial Times.
WPP CEO Cindy Rose declares her stabilization plan is "firmly on track" as the company reports a 4.7 percent dip in 1H revenues.
FTI Consulting reported a 2.6 percent drop in Q2 strategic communications revenues to $100M, a shortfall largely due to a $7.4M decline in pass-through revenues.
Omnicom CEO John Wren reported a 7.2 percent rise in Q2 “core operations” to $6B and a 6.1 percent spurt on an organic basis.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
