October 10, 2019 / 4:06 PM / 6 days ago

Publicis cuts full-year sales targets after poor Q3 results

PARIS, Oct 10 (Reuters) - France’s Publicis cut its full-year revenue target on Thursday following poor third-quarter results driven by a fall in spending by clients in the United States and a disappointing performance by its digital arm.

The world’s third-biggest advertising group said it now expected sales to decline by about 2.5% on an underlying basis, compared to a previous outlook of a “broadly stable net revenue”.

This is the second cut in Publicis’ yearly financial guidance since the start of the year. Third-quarter sales fell by 2.7% on an underlying basis to 2.58 billion euros ($2.8 billion). ($1 = 0.9079 euros) (Reporting by Mathieu Rosemain Editing by Nick Zieminski)

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