PARIS (dpa-AFX) - French advertising company Publicis Groupe (PGPEF.PK, PUBGY.PK) reported Thursday that its first-quarter net revenue was 3.08 billion euros, a growth of 10 percent from 2.80 billion euros in 2022. Organic growth reached 7.1 percent.
Total revenue for the quarter was 3.46 billion euros.
North America net revenue was up 10.9 percent on a reported basis. Organic growth in the region was 5.7 percent.
Net revenue in Europe grew 12.2 percent on a reported basis. It was up by 12.8 percent on an organic basis, or 12.3 percent including the contribution of Outdoor Media activities & the Drugstore.
Net revenue in Asia Pacific, meanwhile, fell 4.2 percent on a reported basis, but was up 0.8 percent on an organic basis. China posted a solid performance at 3.7 percent organically.
In Middle East & Africa, net revenue grew 17.3 percent on a reported basis, and 16.6 percent organically.
Looking ahead for the second quarter, the company projects solid organic growth between 3 percent and 5 percent.
Further, the company confirmed fiscal 2023 guidance despite rising macroeconomic uncertainties. Organic growth now expected to reach the top half of the 3 percent to 5 percent range
Publicis also reiterated its 2023 guidance of 17.5 percent to 18 percent operating margin rate.
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