Advertisement

Omnicom's Stock Rises After Reporting Revenue Growth

Advertisement

NEW YORK -- Omnicom Group's share price closed at $59.55 today, up about 2 percent in above average-volume trading after the company reported worldwide revenue growth of 13 percent in the third-quarter compared to the same period last year.

Third-quarter revenue totaled $1.76 billion, up from $1.57 billion last year, Omnicom said. That growth coupled with cost-cutting produced diluted earnings per share of 68 cents for the quarter--up 11 percent from last year and in line with Wall Street's expectations.

For the first nine months of 2002, Omnicom reported worldwide revenue of $5.41 billion--up 10 percent from the same period last year. Diluted earnings per share in the same period also rose 10 percent, to $2.36.