Publicis raises outlook on strong first half

The commpany reported organic net revenue growth of 4.8 percent in the second quarter, up from 4.5 percent in the first quarter.

Publicis Groupe has increased its full-year 2026 organic net revenue growth guidance after reporting stronger second-quarter performance, supported by growth across its major markets and continued momentum in new business.

The company now expects full-year organic net revenue growth of between 4.5 and 5.0 percent, compared with its previous guidance of 4.0 to 5.0 percent. Publicis also confirmed it expects a slight improvement in its operating margin compared with the 18.2 percent reported in 2025.

Second-quarter growth outpaces first quarter

Publicis reported organic net revenue growth of 4.8 percent in the second quarter, up from 4.5 percent in the first quarter. Its two largest markets, the United States and Europe, recorded organic growth of 5.5 percent and 5.0 percent respectively.

For the first half of the year, the group posted a headline operating margin of 17.5 percent, an increase of 17 basis points year on year before LiveRamp transaction costs. The company also said its new business performance is expected to contribute around 200 basis points of growth on a full-year basis.

Company maintains investment strategy

Publicis said it continues to invest in AI capabilities, talent and acquisitions, including purchases in sports marketing through 160over90 and data collaboration through LiveRamp.

The group also expects free cash flow of around €2.2 billion before changes in working capital requirements, based on an exchange rate of €1 to US$1.155.

CEO cites investment and client demand

Arthur Sadoun, Chairman and CEO, Publicis Groupe: "Publicis once again delivered a very strong first half of the year, accelerating on every front last quarter.

Q2 organic net revenue growth reached 4.8 percent, ahead of Q1 and despite a tougher comparable base, further widening the gap with competition by circa 610 basis points.

At the same time, our headline margin reached record new heights in H1, at 17.5 percent, even as we doubled down on investing in best-in-class capabilities, talent and AI.

Last but not least, our continued momentum in new business makes us confident in sustaining our performance for the rest of the year and beyond despite the ongoing macroeconomic difficulties. In fact, we are in a position to raise our full year organic growth guidance 4.5-5 percent, up from our previous range of 4-5 percent.

Beyond our sustained financial outperformance, H1 was also a period of accelerated investment, as we continued to demonstrate that our strategy is the polar opposite of our peers'. Leveraging the strength of our balance sheet, we have made acquisitions in new and high-growth segments, like sports with 160over90 and data co-creation with LiveRamp, to deliver what our clients truly need: connected, agentic-driven capabilities that will enable them to grow, differentiate and lead in this AI world. It is how we are creating value for them and why we will outperform the industry once again, for the seventh year in a row.

I'd like to thank all of our clients for their continued trust, and our people for their outstanding efforts and commitment."

www.publicisgroupe.com

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