Omnicom has reported a 13 percent rise in quarterly profit despite analysts predilections that the ad business was headed for troubled waters. Shares were up 4 percent in morning trade on the New York Stock Exchange after it reported “stronger earnings and better-than-expected revenue for the fourth quarter.” Worldwide revenue rose 12.7 percent to $3.63 billion, with U.S. revenue up 9.5 percent and international revenue up 16.3 percent. These results echo BBDO CEO, John Osborn‘s, comments at Davos that BBDO was weathering the storm quite nicely thankyouverymuch.
Meanwhile, Omnicom Group Inc.’s Diversified Agency Services division acquired the Kern Organization, a marketing and communications firm, of Woodland Hills, California today. Financial terms of the deal weren’t disclosed. Kern will remain an independent brand, but will operate under Rapp Collins Worldwide.