Publicis Earnings: Once Again Demonstrates the Success of Its Power of One Strategy

Thanks to account wins and continuing growth in consulting and data analytics, Publicis posted strong third-quarter net revenue and increased its full-year organic growth guidance. While the firm has unquestionably outperformed its peers year to date, we think these results also support our assumption of no recession in the U.S. and continuing growth in overall ad spending this year. However, regarding its peer, WPP, we do not expect results as strong as Publicis given some notable account losses by WPP, which could offset the impact of its account wins.