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| Mark Penn |
Stagwell reported Q3 net revenues grew 11.6 percent to $555.8M and 11.3 percent on an organic basis.
CEO Mark Penn said high-growth digital services drove Stagwell performance, increasing net revenue by 21 percent.
The firm chalked up $86M in net new business as Stagwell’s units expanded client relationships and “won new mandates based on digital, creative and strategic excellence,” said Penn.
That included wins or expanded business from Microsoft, Bud Light, 3M, General Mills and Salesforce.
Stagwell chalked up Q3 net income of $10.6M compared to a $2.1M year-ago loss.
Penn projects full-year net organic revenue growth in the 16 percent to 20 percent range.
SKDK, Sloane & Co., Allison+Partners, KWT Global and Hunter are part of Stagwell.
Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
Stagwell CEO Mark Penn reported Q4 net revenues dipped 5.6 percent to $551.1M during a “challenging year for marketing services and digital transformation.”
Why M&A activity in the PR and marketing sector could pick up in 2024.
WPP reported Q4 revenues inched ahead 0.3 percent to $4.1B as CEO Mark Read wrapped up a year that he said was more challenging than expected due to cutbacks, mainly by technology clients.
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