Omnicom Gets Slammed In 2Q, Down 24%
Jul 23, 2009, 3:00 PM
Omnicom Group reported a 24% decline in second-quarter profit on a 17% drop in worldwide revenue. Organic revenue was down 11%. The holding company's recruitment business fell almost 45%; automotive, 30%; events and sports marketing 40%; and not-for-profit dropped 40%. A big factor in the auto hit was the bankruptcy of client Chrysler.