Omnicom Group Posts Higher 2Q Profit, Revenue

Dow Jones07-29
 

Omnicom logged higher profit in its second quarter, as revenue increased, driven by its acquisition of The Interpublic Group, an advertising and marketing holding company.

Omnicom, a New York-based advertising and public relations company, reported net income of $584.8 million, or $2.08 a share, up from $257.6 million, or $1.31 a share, a year earlier.

Adjusted earnings came in at $2.65 a share, falling short of analyst expectations for $2.67 a share, according to FactSet.

Operating income rose to $922.5 million, primarily as a result of revenue growth and partially offset by costs related to the integration of Interpublic.

Revenue rose to $6.56 billion from $4.02 billion, driven by the acquisition of Interpublic. Analysts polled by FactSet expected $6.44 billion.

Chief Executive John Wren said that moving forward the company would focus on leading in agentic marketing transformation, expanding and deepening its partnerships and helping customers win across new consumer engagement models.

Omnicom closed its acquisition of Interpublic in November.

 
 

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