Cohn & Wolfe revenue up double digits in Q3

CEO Donna Imperato said both Burson-Marsteller and C&W 'delivered strong profit growth' in the quarter.

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.

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