Publicis Groupe: Third Quarter 2022 Revenue

3rd consecutive quarter of double-digit organic growth

FY 2022 guidance upgrade

  • Q3 reported growth of +23.5%
  • A third quarter of double-digit organic growth with +10.3% in Q3:
    • Publicis Sapient at +18.1% and Epsilon at +13.9%, both significantly accretive 
    • Continued strength across regions with notably both the U.S. and Europe at +11.1%  
  • Acceleration of organic growth compared to pre-pandemic levels: +16% in Q3 versus 2019, after +12% in Q2 and +10% in Q1
  • Continued momentum of account wins strengthening leadership position in New Business leagues
  • Second upgrade of FY 2022 guidance:
    • Organic growth circa +8.5%, vs. +6% to +7% previously
    • Operating margin rate close to 18%, vs. 17.5% to 18% previously 
    • Free cash flow close to €1.6bn, vs. at least €1.5bn previously
  • An exceptional bonus of one-week salary for half of our employees, to support our talent with no variable remuneration 

Arthur Sadoun, Chairman and CEO of Publicis Groupe:

“ Q3 came in strong at +23.5% on a reported basis.

In an increasingly uncertain global economic context, organic growth for the quarter was ahead of expectations at +10.3%.

For the third quarter in a row, our model allowed us to deliver double digit growth by once again capturing the evolution in client spend towards first-party data management, digital media and business transformation. Publicis Sapient continued to perform strongly with +18.1% organic growth, and Epsilon saw an acceleration to +13.9% organic growth this quarter.

All of our regions posted solid organic growth, with both the U.S. and Europe at +11.1%, and China at +5.9% despite the ongoing lockdowns there.  

Furthermore, our new business record continues to place us at the top of industry rankings on a 12-month basis, well ahead of competition. 

Overall, our results since the beginning of the year mean that today we are in a position to upgrade our full year 2022 guidance for the second time. We are now confident of delivering circa +8.5% organic growth versus +6 to +7% previously, with an operating margin at close to 18% and a Free Cash Flow close to €1.6bn.

Our Q3 numbers are clearly encouraging. But what really stands out is our performance versus pre-pandemic levels. Compared to 2019, we’ve seen our organic growth accelerate to +16% in Q3. This demonstrates our ability to more than withstand the ups and downs of the global economy, and makes us confident in our ability to face ongoing macroeconomic uncertainties.

I’d like to thank our clients for their partnership. I also want to say a big ‘merci’ to all of our people for their outstanding efforts. In a context where inflation is impacting the daily lives of many of them, we want to ensure we are giving additional support where it is most needed as we enter the holiday season. That is why we are granting next month an additional one-week salary to half of our team members who do not have any variable remuneration and have contributed to everything we have achieved over the past year. ”


Publicis Groupe [Euronext Paris FR0000130577, CAC 40] is a global leader in communication. The Groupe is positioned at every step of the value chain, from consulting to execution, combining marketing transformation and digital business transformation. Publicis Groupe is a privileged partner in its clients’ transformation to enhance personalization at scale. The Groupe relies on ten expertise concentrated within four main activities: Communication, Media, Data and Technology. Through a unified and fluid organization, its clients have a facilitated access to all its expertise in every market. Present in over 100 countries, Publicis Groupe employs around 103,000 professionals.