Omnicom Group's net income declined in the third quarter, despite a revenue gain of more than 2 percent.
The holding company ended the quarter with revenue of $3.49 billion, up from $3.40 billion in the same period last year. Net income, however, declined 4 percent to about $191 million.
Omnicom attributed some of the decline to expenses related to its pending merger with Publicis Groupe, which Omnicom CEO John Wren and Publicis Groupe CEO Maurice Lévy unveiled in July. Pre-tax charges related to the merger totaled more than $28 million for the quarter.
On an organic basis, third-quarter revenue grew 4 percent, buoyed by 5 percent organic growth in the U.S. and 7.5 percent organic growth in the U.K. In other European markets, however, organic revenue declined by nearly 2 percent.
For the first nine months of the year, net income also declined—albeit less than 1 percent—to about $672 million from $675 million. Revenue during that period grew more than 2 percent to $10.52 billion.
Organic revenue grew more than 3 percent between January and the end of September, with the U.K. (up 6 percent) and the U.S. (up 4 percent) again leading the way.