Omnicom Q2 Income Rises 15 Percent

NEW YORK Omnicom Group today said its second-quarter net income rose 15 percent to $206 million from $180 million in the same quarter last year. Revenue improved 12 percent to $2.4 billion in the quarter, up from $2.15 billion a year ago.

Net income for the first half of 2004 was $342 million, compared with $296 million in 2003, an improvement of 16 percent. Revenue during the first half was more than $4.6 billion, compared with $4.1 billion for the first six months of 2003.

Overall, the agency holding company’s international performance has outpaced its domestic progress. For the first half of 2004, international revenue increased 17 percent to $2.1 billion, compared to an 11 percent domestic improvement to $2.5 billion. That gap closed in the second quarter, however, with domestic revenue improving 11 percent and international revenue up 13 percent.

“We’re very pleased with our operating costs for the quarter and the first six months,” said Omnicom CEO John Wren during a call with media and analysts. “Our financial performance is really beginning to reflect the actions we’ve taken over the last 18 months.”

Diluted earnings per share in the second quarter of 2004 increased 15 percent to $1.10 per share from 96 cents per share in the second quarter of 2003.