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Omnicom Group
OMC posted upbeat earnings for the third quarter.
The New York-based company posted a quarterly profit of $243.8 million, or $0.95 per share, versus a year-ago profit of $196 million, or $0.74 per share.
Its revenue climbed 7.4% to $3.75 billion. However, analysts were projecting earnings of $0.90 per share on revenue of $3.68 billion. The year-ago results included $28.1 million of pre-tax charges related to Omnicom's proposed merger with Publicis.
US revenue climbed 10% to $2 billion, while international revenue rose 4.7% to $1.73 billion in the quarter.
Omnicom's organic revenue rose 8.9% in North America and gained 2.2% in Europe. Organic revenue rose 4.4% in Asia Pacific and climbed 2.5% in Latin America. Organic revenue in Africa and the Middle East surged 18% in the quarter.
Omnicom's EBITA rose 13.6%, to $460.5 million
Omnicom shares rose 2.30% to $68.83 in pre-market trading.
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