Publicis Reports Better-Than-Expected 1H Results but Lowers Growth Guidance; Maintaining EUR 64 FVE
Publicis beat first-half 2019 consensus expectations on the top and bottom lines, but the firm also lowered its guidance to no organic growth for the year, as it is experiencing lower-than-expected ad spending by consumer-packaged goods companies in the U.S. We were pleasantly surprised by the firm’s ability to continue margin expansion as its reorganization is bearing fruit. We did not make any significant changes to our projections, since we already expected weakness in the U.S. For this reaso...Publicis is holding company. Through its subsidiaries, Co. is engaged in marketing, communication and digital transformation. Co. designs a customized package of services to meet each client's particular needs through a holistic and global approach. In addition, Co. provides financial markets with information concerning the relative size of each of the different business sectors for the sole purpose of allowing sector comparisons. Co.'s principal activities comprise four main categories: Digital, Advertising, Specialized Agencies and Marketing Services (SAMS) and Media.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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