Stagwell Shows 8% Q1 Growth
Wed, May 1, 2024
By Kevin McCauley
Stagwell registered an eight percent rise in Q1 revenues to $670M and a $1.3M net loss compared to a $1.4M profit last year.
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Stagwell registered an eight percent rise in Q1 revenues to $670M and a $1.3M net loss compared to a $1.4M profit last year.
WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets. Operating income fell 2.2 percent to $184.2M.
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Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
Stagwell CEO Mark Penn reported Q4 net revenues dipped 5.6 percent to $551.1M during a “challenging year for marketing services and digital transformation.”
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WPP reported Q4 revenues inched ahead 0.3 percent to $4.1B as CEO Mark Read wrapped up a year that he said was more challenging than expected due to cutbacks, mainly by technology clients.
Edelman reports 2023 revenues declined 3.7 percent to $1.04B as its flagship US region was off 9.1 percent to $639M.
Interpublic CEO Philippe Krakowsky reported Q4 total revenues rose 1.3 percent to $3B, while operating income soared 36.5 percent to $606.8M.
Madrid’s LLYC posted 14 percent growth to $90M and a 15 percent rise in EBITDA to $20M. Organic growth advanced eight percent.
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Vivendi is considering splitting itself into three separate units to boost the share price on the Paris Euronext market.
Stagwell’s Mark Penn reports Q3 revenue fell 7 percent to $617.6M and net income declined to $653K from $10.6M a year ago.
WPP’s BCW, H+K Strategies posted declines in Q3 revenues, while FGS Global "continued to do well" in tough US market.
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Interpublic reported flat Q3 net revenues (+0.6 percent) of $2.3B as its financial performance did not live up to expectations, said CEO Philippe Krakowsky.
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