Publicis Groupe reported net organic revenue growth of 5.6% in the second quarter with reported net revenues of 3.5 billion euros in the period, up 6.8%.  (Organic revenue excludes M&A activity and currency impact.) The company's stock price shot up 7% at the start of the trading day on the Paris Exchange on news of the strong performance.

The Groupe reported Q2 results two days after Omnicom Group reported for the same period. The latter reported organic growth of 5.2%.  

Given its better-than-expected results, Publicis raised its growth outlook for the full year to between 5% and 6%, from the previous 4% to 5%.  

The new low end of the projection range considers ongoing macroeconomic uncertainty as well as continued delays in client transformation projects, the company said. The 6% “stretch” projection assumes an improved macroeconomic outlook and the unpausing of transformation project work as well as fewer cuts in second half ad budgets. 

The company reported first half organic growth of 5.4%.  

“As we further extract ourselves from the pack, we have everything we need to continue to lead and reinvent our industry,” stated Publicis Chairman and CEO Arthur Sadoun. He said that the company’s data and media offerings were up double-digits on a percentage basis and that “thanks to Publicis Sapient, we are uniquely positioned to partner with our clients in their AI-led transformation.”  

That said, competitors argue their offerings are well differentiated in the market also (see Omnicom CEO John Wren’s comments to analysts earlier this week here.) 

Second quarter organic growth in the U.S. was 5.3%, with media and epsilon leading the way. Combined media operations grew by double digits while Epsilon posted mid-single digit growth. Publicis Sapient posted a slight decline in the region, due to delayed projects and creative agencies were broadly in line with Q2 2023 results. 

Growth in other regions: Europe (4.2%), Asia Pacific (7.7%), China (10.5%), Middle East & Africa (9.1%). Latin America grew nearly 19%, led by Brazil, Mexico and Columbia.