Publicis Groupe stock dives despite sunny forecast
Despite touting an “unprecedented new business run” for the first half of the calendar year, Publicis Groupe’s shares fell overnight after investors were spooked by talk of a client spending slowdown.
Publicis reported adjusted earnings before tax of A$2.2 billion (€1.24 billion) for the first half of the year, and a 5.9% increase in second quarter organic net revenue. Second-quarter net revenue was ahead of the 4.6% estimate, and up from the 5.4% leap in quarter one.
Total second-quarter revenue was up by 10%, with a 5.7% jump in Asia-Pacific. The company saw growth across all territories, with a 5.3% jump in the US, and a 4.6% leap in Europe.
