Omnicom Reports Organic Growth Driven by Advertising
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Omnicom on Tuesday reported earnings for its second quarter of 2016 that beat analyst expectations, and organic revenue growth led by the advertising category.
The advertising services company reported earnings per share of $1.36, beating analyst expectations of $1.33, according to estimates from Yahoo Finance. The company, however, fell short of expectations of $3.9 billion in revenue. Omnicom’s worldwide revenue in the quarter increased 2.1%, to $3.88 billion, from $3.8 billion during the same period last year.
Revenue from organic growth, which does not include revenue from acquisitions or foreign exchange rates, increased 3.4%. Net income for the second quarter of 2016 increased 3.9%, to $326.1 million, from $313.9 million in the second quarter of 2015.
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