NEW YORK: Cohn & Wolfe saw double-digit organic revenue growth in the third quarter, Donna Imperato, global CEO of Burson Cohn & Wolfe, said on Thursday.
The Q3 revenue sets "the stage for a fifth consecutive year of double-digit growth," she said, via emailed statement, adding that "both Burson-Marsteller and Cohn & Wolfe delivered strong profit growth in the quarter." The firm did not address Burson-Marsteller’s Q3 revenue in the statement.
Parent holding company WPP created BCW by combining Cohn & Wolfe with Burson-Marsteller in February, but the two firms are operating with different P&Ls through the end of this year.
The results from WPP’s PR and public affairs agencies were a positive note in the holding company’s Q3 earnings. Like-for-like revenue for the division increased 2.5% to $384.7 million in the period. The section includes BCW, Hill+Knowlton Strategies, and Finsbury. However, the holding company as a whole disappointed investors, sending its share price down more than 20% on Thursday as it missed analysts’ expectations. In Q3, WPP saw like-for-like revenue growth of 0.2% to $4.85 billion, with its weakest showing in North America at -5.3%.
Spokespeople from Finsbury and Ogilvy declined to comment on the Q3 results. An H+K representative could not be immediately reached for comment.