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Publicis Groupe had another weak earnings period in the third quarter, as chief Maurice Lévy alluded to the company’s failed $35 billion merger with Omnicom and admitted "management was too focused on other plans and not enough on the short-term performance and growth."
Organic growth was up just 1 percent in the quarter while revenue increased slightly more than 4 percent to $2.21 billion. The company also blamed poor organic growth on the contracting global economy—particularly in some emerging markets—as well as weak performance in Europe and a "temporary" setback at digital shop Razorfish, which was impacted by stuggles at clients Motorola and BlackBerry.
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