Jul
21
Omnicom's Organic Growth in North America Slows to 0.2%
Posted in: Uncategorized
A strong performance in the rest of the world helped Omnicom Group post organic growth of 3.5% for the second quarter, but the North American market slowed to just 0.2% growth, down from 1.1% in the first quarter of 2017.
And even that 3.5% organic growth rate for the second quarter, compared to the same period last year, was a slowdown from 4.4% in the first quarter. (Organic growth excludes acquisitions and foreign exchange fluctuations).
On a call presided over by President-CEO John Wren, Omnicom reported that worldwide revenue was down by 2.4% in the second quarter to $3.79 billion, from $3.88 billion in the second quarter of 2016. The company attributed that to the impact of foreign exchange movements, and to fewer acquisitions.
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