Publicis beat expectations in Q2 23. Organic net revenue grew by +7.1% thanks to a good performance in a wide range of countries and geographic areas. Media was the best performer thanks to the gain of new businesses while the activities at Publicis Sapient (+5.5%) and Epsilon (+6.8%) slowed vs the high comparative last year. In H1 23, the operating margin was stable (17.3% of net revenue) thanks to effective cost management. Publicis now expects to achieve the top end of the 2023 guidance.
