Omnicom Revenue Grows, Profit Stays Unchanged
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Worldwide revenue at Omnicom Group increased to $3.4 billion in the first quarter of 2014, up 3% from the equivalent quarter last year, the company said Tuesday morning. U.S. revenue increased 4% to $1.86 billion, while international was up 1.9% to $1.63 billion.
But net income for the first quarter of the year was $205.5 million, essentially unchanged from $205.1 million during the first quarter last year, according to Omnicom, which owns ad agencies including TBWA/Chiat/Day, BBDO, OMD, Fleishman-Hillard and Ketchum. Net income was affected by $7 million in pre-tax charges related to the company’s proposed merger with Publicis Groupe, which will create the world’s largest agency holding company.
Organic revenue, which excludes the effects of events such as acquisitions and disposals, increased 4.3% worldwide, growing 4.8% in North America, 2.3% in Europe, 5.7% in Asia Pacific, 7.4% in Latin America and 6.6% in Africa and the Middle East.
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