Omnicom Q3 Revenue Up, Profits Down
Reporting its first results since the announcement of its proposed merger with Publicis Groupe Omnicom Group said today that it posted a 2.5% increase in 3rd quarter revenue to nearly $3.5 billion while net income was down 3.9% to $196 million.
The company attributed the income drop to expenses related to the merger which totaled $28.1 million (pre-tax). Excluding those merger expenses the company said profits would have been up 6.8% to $217.7 million.
Organic growth for the period was 4.1% overall; 5% in the U.S.; 7.5% in the UK, and an average 4.5% everywhere else. Euro markets continued to lag, down 1.6%. Organic growth for the first nine months of the year was 3.2%.