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| Mark Penn |
Stagwell CEO Mark Penn reports Q1 revenues fell 2.7 percent to $651.8M, while its net loss rose from $1.3M to $2.9M.
Noting that Q1 is the “low point in the political cycle,” Penn said Stagwell is set up for a strong year ahead.
The firm chalked up double-digit growth in its digital transformation, creativity and marketing cloud capabilities.
Posting $130M in Q1 net new business (PayPal, Panera, CarMax, Celsius and Hyatt), Penn remains “optimistic about our outlook for the rest of the year.”
Stagwell has targeted eight percent net revenue growth for the year.
The company's PR units include SKDK, HUNTER, Allison, KWT Global, and Sloane & Co.
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.
WPP suffered a 10.2 percent drop in 1H revenues to $6.7B and a 47.8 percent plunge in operating profit to $297M.
Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M. 
WPP has adopted a gloomier profit and sales forecast due to a deteriorating Q2 financial performance triggered by weak client spending as companies cope with the challenging economic backdrop.
