Ad group Publicis raises revenue forecast again as targeted ads fuel growth
By Leo Marchandon and Gianluca Lo Nostro
Oct 17 (Reuters) -French advertising group Publicis PUBP.PA on Thursday raisedits revenue forecastfor the second time this year after posting better than expected organic growth in the third quarter, driven by strong client demand for personalized ads.
Publicis has been increasing market share through itstargeted marketing capabilities, in contrast to peers who have facedsluggish growth in the advertising space.
The marketing giant is now expecting organic growth revenue of 5.5% this year, up from 5% previously forecast.
In July, the group said it had agreed to buy influencer marketing platform Influential, and in September it acquired commerce marketing firm Mars United Commerce, the latest in a series of deals aimed at strengthening its marketing services.
Publicis is outperforming the sector thanks to strength across its business, its financial position, its geographical mix, and the surplus in net new business revenue over the past five years, according to Midcap analyst Sarah Thirion.
Its Epsilon unit, which provides targeted advertising capacity, remained the driver behind the group's performance thanks to individualised consumer profiling, Publicis said. The group now has 2 billion individualised profiles globally.
The largest advertising company worldwide by market value reported net revenue of 3.42 billion euros ($3.72 billion) for the third quarter, with organic growth of 5.8%, slightly above than the 5.6% forecast in a company-compiled consensus forecast.
($1 = 0.9203 euros)
Reporting by Leo Marchandon and Gianluca Lo Nostro; Editing by Deepa Babington
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