Dentsu released its third-quarter earnings report on November 11th, detailing heavy losses year over year. While the agency saw improvement over the previous quarter, it remains clear that the pandemic continues to take its toll.
Revenue fell across the board, with the APAC region suffering the most at a 16.4% decline. Neither the American nor European markets were spared as they posted losses of 15.3% and 12.9% respectively.
While noting the uptick over quarter 2, President and CEO, Toshihiro Yamamoto also acknowledged the difficulties that lie ahead.
“Client confidence has steadily returned through Q3, with a pickup in new pitch activity in both Japan & internationally. We have won a number of new clients and significantly expanded many of our existing relationships, including KraftHeinz, American Express and Heineken,” said Yamamoto.
“We are beginning to see the benefit from combining our talent, process, and technology in integrated solutions for our clients. However, we remain cautious on the short-term outlook, given the uncertainty surrounding the impact from COVID-19 as restrictions have now been increasing in many countries across the globe.”
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