- After a bruising wave of media reviews shook up advertising giants and their valued accounts in 2015, Omnicom (NYSE:OMC) chief John Wren says it's too soon to tell whether 2016 will bring a repeat.
- He was speaking on the company's earnings call after the company beat earnings expectations and grew organic revenue. Omnicom closed today up 2.7%.
- “Whether the pace of 2015 continues into 2016 it is too early to say, but we will not be surprised if the patterns continue,” Wren said.
- Publicis Groupe (OTCQX:PUBGY) went into 2015's reviews with the most to lose, defending billions of dollars in bookings, and Omnicom was the one that took the biggest one from Publicis in grabbing the bulk of media planning and buying for Procter & Gamble.
- CFO Phil Angelastro suggested that the company's M&A activity may pick up: “To the extent we can find acquisitions that fit strategically, culturally and pricing makes sense, we’re going to continue to look to do more acquisitions rather than less."
- Previously: Omnicom +3.3% after growth in profits, organic revenue (Feb. 09 2016)