UPDATE 2-Advertiser Publicis's shares slide after sales miss forecasts [Reuters]
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Source: Reuters
Advertiser Publicis's shares slide after sales miss forecasts | Reuters 4 Min Read PARIS (Reuters) - French advertising agency Publicis ( PUBP.PA ), facing fierce new competition with the growth in online advertising, posted third-quarter sales on Thursday that missed market forecasts and sent its shares lower. The world’s third-largest advertising group behind WPP ( WPP.L ) and Omnicom ( OMC.N ) said sales had risen 1.2 percent on a like-for-like basis to 2.264 billion euros ($2.67 billion). However, this came in below an average forecast for 2.34 billion euros from analysts polled by Reuters. Publicis's shares slid 5.1 percent to 59.01 euros in early trading, making the stock the worst performer on France's benchmark CAC-40 index .FCHI . The French company’s relatively disappointing performance followed a sales warning from WPP in August that sent its share price down by more than 10 percent. But Publicis’s new boss Arthur Sadoun took a swipe at WPP for blaming cutbacks in ad
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