Omnicom Q3 Profits Flat With 3.5% Organic Revenue Growth
Omnicom Group reported a 1% revenue gain in the third quarter to $3.4 billion while net income was flat at nearly $204 million. For the first nine months of the year the agency holding company’s revenue was up 2.5% to nearly $10.3 billion with net income of $691.2 million, up 1.5%.
Organic revenue growth, a key performance indicator for Adland, which excludes the impact of currency fluctuations, acquisitions and dispositions, for the third quarter was 3.5% and for the first nine months was 4.5%. Omnicom executives said today they expect full year organic growth to be approximately 4%.
Company CEO John Wren described the company's third quarter performance as "solid" particularly amid all the macro-economic uncertainty.