(Boursier.com) — In a market that no longer knows which foot to stand on, Publicis advances 2.2% to 102.8 euros, a historic high. The group published quarterly results better than expected thanks to its data and media activities, its “dynamic of gains in new business” as well as a “clear rebound” in the technology sector. Over the period from January to March, Publicis recorded net income of 3.23 billion euros, representing organic growth of 5.3%, higher than the 4%/5% range announced last February.
The company confirmed its forecasts for the year, with organic growth anticipated between 4% and 5%, describing its 4% target as “very solid”. For the second quarter, organic growth should be in the same range…
Morgan Stanley (‘overweight’) says strong overall organic growth in the first quarter, despite Sapient’s relative weakness, will convince the market that Publicis can “at least” achieve the high end of its fiscal 2024 guidance. expects an upward revision to consensus organic growth estimates for 2024, noting that Sapient is expected to gradually recover over the course of the year. Citi (‘neutral’) notes that results are “well distributed”, notably thanks to the improvement in Sapient’s capabilities, as well as the rebound in the technology sector and China.
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