Additional Information


Content

Net income rises 8% at Omnicom

NEW YORK - Omnicom has showed a third-quarter rise in net income of 8%, up from $85.7m (£60.3m) to $92.4m (£65m).

Share this article

The media services giant, owner of advertising agencies BBDO Worldwide and TBWA\ and the Porter Novelli PR brand, recorded an increase in worldwide revenue of 8%. It grew from $1.5bn (£1.06bn) for the quarter ending September 30 last year to $1.6bn (£1.13bn) for the same period this year.



In the US, revenue increased by more than that -- it was up 16% to $339m (£239m).



Omnicom, headed by president and CEO John Wren, benefited from the timely sale of its stake in new-media consultancy Razorfish. It sold the company and made an after-tax gain of $63.8m (£44.9m). Razorfish has since closed offices in Europe and is struggling with losses.



The group said earnings per share increased by 4% to $0.50 (35p), up from $0.48 (34p) last year.









Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed

FROM THE BLOGS

The Wall blogs

Back to top ^