12.5% Q1 Revenue Spike at Omnicom

BOSTON Omnicom Group, the largest agency holding company, today reported a 14 percent increase in first-quarter net income to $208 million on a 12.5 percent revenue boost to nearly $3.2 billion, compared to the same quarter a year ago.

Diluted earnings per share in Q1 increased more than 18 percent to 65 cents compared with the year-ago period.

That performance generally beat Wall Street predictions, as analysts had expected earnings of 62 cents per share and revenue of $3.13 billion, according to a report by Thompson Financial.

Like one of its rivals, Paris-based Havas, which reported a 2.5 percent Q1 revenue spike earlier today, Omnicom’s performance was especially impressive in markets other than the United States.

In the U.S., Q1 revenue climbed more than 7.5 percent to almost $1.66 billion, while international revenue rose more than 18 percent to $1.53 billion, according to the company.

During a conference call, John Wren, Omnicom CEO, said he remains “cautious about the economy” but noted that as yet “we have not seen any significant reduction in client spending.”

New York-based Omnicom’s key holdings include BBDO, DDB, TBWA, OMD and PHD, among others.