It’s still earnings season folks, and this week will wrap up how the big three: Omnicom, WPP Group and Interpublic Group fair, with the former having already reported a 12.9% net income gain, and the latter two announcing results on Friday.
Sir Martin Sorrell will be posting WPP’s annual results on Friday and apparently, it’s looking good. Sorrell is expected to say that the agency is healthier than it was a year ago and that 2008 should be even better based on budgets WPP’s enterprises in developing nations. Meanwhile, the US and UK markets for the group should hold steady despite this whole recession thing.
From The Motley Fool’s take on Interpublic Group: Wall Street is looking for the marketing titan to earn $0.22 a share, well above the $0.11 a share it earned a year ago. I don’t care what you do for a living — you don’t need to do any marketing spin if your profits double year over year.
Hey, there’s at least one person we know faired well: Omnicom CEO John Wrenn, who sold 400,000 shares of Omnicom stock for $46 to $46.81 apiece.