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Stagwell lowers guidance, projects negative growth for 2023

Stagwell lowers guidance, projects negative growth for 2023. From PR Week

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Stagwell lowers guidance, projects negative growth for 2023

Q3 organic net revenue declined 7% YOY as the holding company was hit by a pullback from tech clients, among other factors.

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IPG underperforms peers again in Q3: 'Results did not measure up to expectations'

The holding company reported a 0.4% organic growth decrease YoY as it continues to face pressure from lower spending by tech and telecom clients and underperformance of its digital agencies.

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Stagwell latest holding company to be hit by tech pullback

The holding company’s organic growth dipped 5% YOY in Q2, prompting it to downgrade its full year outlook and lay off staff.

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