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Omnicom Posts 8% Gains in Q2

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NEW YORK Omnicom Group today said its worldwide net income and revenue for the second quarter each rose 8 percent to $244 million and $2.8 billion, respectively, compared to the same period a year ago.

Diluted earnings per share in Q2 increased 15 percent to $1.42 per share from $1.24 per share in the second quarter of 2005, Omnicom said.

Both domestic and international Q2 revenue showed 8 percent gains, climbing to $1.54 billion and nearly $1.3 billion, respectively.

John Wren, Omnicom CEO, said during a conference call with analysts that new business "continues to be very strong and we expect this trend to continue into the second half of the year."

Wren also noted the company's Q2 efforts to open new markets, notably in China, where Omnicom in June entered into a strategic partnership with CITIC Guoan Group to form DDB Guoan Communications Beijing Co.

Global net income for the first six month of 2006 increased 9 percent to nearly $410 million as revenue climbed 7 percent to $5.4 billion, compared to the first half of 2005. Diluted earnings per share for the first six months of 2006 were $2.34, an increase of 14 percent from the same period a year ago.

Omnicom owns advertising and communications companies such as BBDO, TBWA, DDB, Interbrand, Rapp Collins, GMR, PHD and OMD, which serve some 5,000 clients in more than 100 countries.