Publicis shares rise as Q1 growth beats forecasts

(Sharecast News) - French advertising and PR giant Publicis Groupe has hailed a "very strong start" to 2024 after delivering revenue growth ahead of forecasts. The firm said it had sustained growth momentum despite "ongoing macroeconomic tensions", with annual organic growth coming in at 5.3% in the first three months of the year, with all regions contributing to growth.

US organic growth came in above 5% for the first quarter, Europe grew by 6% while China saw an 7% increase, Publicis said.

"After extracting ourselves from the pack in 2023, we clearly carried that momentum into Q1," said chairman and chief executive Arthur Sadoun.

"We expect this to be our eighth consecutive quarter of delivering the highest growth in the industry, leading to material market share gains."

The company reiterated its guidance for the 2024 financial year - to continue growing twice as fast as the industry average, based on consensus forecasts.

"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," Sadoun said.

The stock was up 1.4% €102 by 1249 in Paris.