Omnicom -2.5% as currency concerns weigh on revenues

|About: Omnicom Group Inc. (OMC)|By:, SA News Editor

Omnicom (NYSE:OMC) is off 2.5% after posting Q3 earnings where profits beat expectations but revenues came to a narrow miss as currency issues continued to act as a drag.

Profits were up 6.1% and revenue grew 2.2%; foreign exchange rates had a negative impact of 1.3% vs. organic growth of 3.2%.

EBITA grew 6% to $482.1M; EBITA margin increased to 12.7% from a year-ago 12.3%.

Organic revenue growth by market: North America, 1.7%; United Kingdom, 5.2%; Euro Markets/Other Europe, 2%; Asia Pacific, 8%; Latin America, 11.9%; Middle East/Africa, 15.6%.

Organic revenue growth by discipline: Advertising, 3.6%; CRM, 1.6%; Public relations, 4.4%; Specialty communications, 6.2%.

Conference call link

Press Release