Publicis shedding 'volatile' Health Services business; posts 'decent' Q3
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Publicis Groupe reported a “decent” third quarter Thursday on the back of several new business wins and stronger organic growth, while announcing that it will divest its volatile Publicis Health Services business.
The company’s net revenue in the third quarter was up 0.5 percent year on year to 2.2 billion. Organic growth was 1.3 percent in the quarter, slightly lower than analyst expectations of 1.4 percent. North America saw an organic growth decline of 0.6 percent in the quarter, though excluding Publicis Health Services the holding company says North America saw organic growth of 1 percent.
This comes after a weaker-than-expected second quarter for the holding company, whose agencies include Leo Burnett, Starcom and Digitas. The holding company reported organic growth decline of 2.1 percent in the second quarter, saying it had yet to see the benefits of new accounts won in the first quarter and that some clients had temporarily suspended campaigns in the quarter amid uncertainty with the implementation of GDPR in Europe.
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