Omnicom Sees Q2 Revenue, Profit Boost

In another encouraging sign for the ad business, holding company Omnicom Group today beat analysts’ expectations and posted strong second-quarter results, reporting a 6 percent rise in revenue to $3.04 billion and a 4.2 percent improvement in profit to $243.3 million, compared to the same period in 2009.
Those numbers translate to a Q2 per-share profit of 79 cents, up from 75 cents vs. the same quarter a year ago. Most analysts had expected per-share earnings of 77 cents and revenue slightly less than $3 billion, per Thomson Reuters.
Good domestic numbers helped propel the performance overall. U.S. revenue rose 7.4 percent, compared to a 4.3 percent gain overseas.
Researchers of late have forecast an improved global ad market following nearly two years of recession and stagnation, and today’s Omnicom numbers appear to support such projections.
Omnicom, parent of major agency players like BBDO, DDB and OMD, last week continued to broaden its digital options, inking a deal with Google, through which it will spend more on display ads with the Web giant.

@DaveGian David Gianatasio is a longtime contributor to Adweek, where he has been a writer and editor for two decades. Previously serving as Adweek's New England bureau chief and web editor, he remains based in Boston.