News Brief

Omnicom Gets Slammed In 2Q, Down 24%

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.

Tags: agency, earnings
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