Publicis Starts Year Strong With 5.3% Q1 Growth


Publicis Groupe posted 5.3% organic net revenue growth in the first quarter of 2024, ahead of analyst consensus estimates (4.6%). 

The company cited continuing new business tailwinds, a rebounding technology sector and double-digit growth in its Epsilon and Publicis Media operations as drivers of Q1 growth.  



Company shares on the Paris Exchange rose more than 3% Thursday on the news. Year to date, shares are up nearly 23%. 

Publicis Groupe reaffirmed earlier guidance that it will achieve 4% to 5% organic growth (which excludes currency and M&A impact) for the full year and that second-quarter growth will also be in the full-year range.  

All regions reported mid- or high-single-digit growth including North America (4.8%), Europe (6.1%), Asia-Pacific (6.2%), Middle East & Africa (4%) and Latin America (7.8%).  

The U.S. continued to perform strongly with 5% growth, driven by demand for media services -- which grew by double digits and Epsilon -- which was up by high single digits in the country.  

While the other holding companies will be reporting Q1 results in the coming weeks, Publicis CEO Arthur Sadoun said: “We expect this to be our 8th consecutive quarter of delivering the highest growth in the industry, leading to material market share gains.”  

Sadoun added: “In what is a still-challenging environment, our leadership in personalization at scale, our new business wins and our platform organization make us confident in confirming our 2024 guidance.” 

The Groupe also reaffirmed that it expects to achieve an 18% operating profit margin for the full year and generate free cash flow of between 1.8 and 1.9 billion euros.  

Net revenue for Q1 was 3.23 billion euros -- up 4.9% on a reported basis versus a year ago.  

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