NEW YORK Omnicom Group today reported first-quarter net income of more than $150 million, an 11 percent improvement over the same period a year ago.
Diluted earnings per share rose 14 percent to 82 cents per share compared with the same quarter in 2004.
Omnicom said its Q1 global revenue increased nearly 8 percent to $2.4 billion. That increase was balanced between domestic and international operations, with each growing 8 percent to $1.3 billion and $1.1 billion, respectively, during the quarter.
"We were very pleased with the company's performance," said Omnicom CEO John Wren, during a call with analysts. "Our margins continue to improve."
"The year is off to a good start," said Omnicom CFO Randall Weisenburger, who was also on the call.
Organic growth was up 5.8 percent in Q1 to $128 million, the company said, with public relations and specialty communications businesses turning in especially strong results.
Omnicom holdings include BBDO, TBWA\Chiat\Day, DDB, Ketchum, Fleishman-Hillard, Porter Novelli and OMD.
Omnicom rival WPP Group last week reported a Q1 revenue boost of 16 percent to $2.12 billion [Adweek Online, April 22].