Publicis raises 2023 sales target again as Q3 beats estimates

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Publicis raises 2023 sales target again as Q3 beats estimates
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Publicis, the world's largest advertising group by market value, on Thursday increased its 2023 sales and margin forecasts as it beat expectations in the...

- Publicis, the world's largest advertising group by market value, on Thursday increased its 2023 sales and margin forecasts as it beat expectations in the third quarter, defying a general slowdown in the ads industry.

"We are seeing budget cuts in classic advertising," said Chief Executive Arthur Sadoun in a call with journalists, also pointing to a slowdown in IT consulting. He added however that Publicis' diversified services and ability to gain market share meant it could offset this. "Our goal is to continue to outperform the market in 2024," Sadoun said, saying it was too early to give figures.

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