Agency Holding Company Brought in $694.5 Million in New Business

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NEW YORK (AdAge.com) -- Publicis Groupe reported flat third-quarter revenue, citing continued weakness in the advertising market as well as the relative strength of the euro against the dollar that wiped out revenue growth from acquisitions.

Revenue for the quarter was $592.9 million; however, revenue dropped 3.9% on an organic basis, which factors out acquisitions and currency fluctuations, from the same period last year.

Publicis does not report quarterly profit figures.

North America, Europe down
Revenue in Europe, Publicis' largest region, showed a drop of 3.7% on an organic basis, while North American revenue was down 5.8% on an organic basis, based on year-over-year comparisons.

Billings grew 28.5% from the same period last year, thanks to $694.5 million in new business won during the quarter, which brings the year-to-date new business total to $1.51 billion.

Saatchi & Saatchi was the best performer among Publicis' advertising networks, showing 1.2% organic revenue growth year-to-date, while Publicis Worldwide showed a drop of 6.5% in organic revenue. Media operation Zenith Optimedia Group, a joint venture with Cordiant Communications Group, showed 5.2% organic revenue growth year-to-date.

Bcom3 deal
Results for the agencies picked up as part of Publicis's acquisition of Bcom3 Group were not included in the results, as the deal only closed on Sept. 24. But Publicis reported Bcom3 posted revenues of $453.1 million during the quarter, a 4.6% decline for the year-ago period on an organic basis, and $70.5 million in net new business.

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