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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.
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.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
