Omnicom Group Inc. : Omnicom 2Q Net Rises 2.8% on Higher Domestic Revenue
07/17/2012| 07:42am US/Eastern
By Chelsea Stevenson
Omnicom Group Inc.'s (OMC) second-quarter earnings climbed 2.8%, as the advertising company's domestic revenue growth offset a slide in international revenue.
Omnicom, the world's second-largest ad holding company by revenue, has posted strong revenue in recent quarters. The company, which owns BBDO Worldwide and DDB Worldwide agencies, has acquired a number of firms involved in public relations, licensing or market research to spur growth. Its most recent acquisition was London-based adam&eve, which DDB United Kingdom purchased to create a new agency. In April, the parent-company bought NIM Digital, a marketing agency in China, amid a push to expand in that region. Tee company operates in more than 100 countries.
The company posted a profit of $282.7 million, or $1.02 a share, up from $275.1 million, or 96 cents a share, a year earlier. Revenue increased 2.1% to $3.56 billion.
Analysts polled by Thomson Reuters expected earnings of $1.01 a share on revenue of $3.53 billion.
Operating margin edged up to 14.2% from 14%.
Domestic revenue grew 5.4% and international revenue fell 1.3%.
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