Recovery helps Omnicom beat estimates with 15% rise
NEW YORK - Omnicom Group, owner of advertising agencies BBDO Worldwide and the media buyer PHD, has said that profit rose by 15% over the last quarter to $206.1m as its agencies started to reap the rewards of the ad recovery.
Analysts had been forecasting an earnings per share figure of $1.07, but Omnicom beat this by delivering $1.10. This compares with 96 cents for the same period last year.
The company, which breaks down revenues into "domestic" and "international" said that there was a 13% rise in revenues outside the US to $1.1bn, up from $967.3m during the same quarter last year, with US revenues rising by 12% to $1.2bn.
The company, headed by president and CEO John Wren, is due to unveil further details about its second quarter performance at a press conference later today.
Omnicom also owns the ad agencies, DDB Worldwide and TBWA\, and the media agency, OMD.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.
Latest jobs Jobs web feed
- Senior Brand Manager Ball & Hoolahan £Excellent Salary Package , South East England / London (Greater)
- Innovation Senior Brand Manager Ball & Hoolahan £48,000 + Car/Car Allowance, South East England
- Digital Marketing Specialist Colyer London £25000 per annum, London (Central), London (Greater)
- Senior Brand Manager Diageo Great reward package for great talent, Amsterdam / Dublin / Madrid / London (Greater)
- Digital Display Executive (fashion e-commerce) Farfetch Competitive + bonus + benefits, London (Central), London (Greater)
- Campaign Marketing Manager EMAP Competitive + Bonus, London (Greater) / London (East), London (Greater)