Omnicom Posts 14% Uplift in Q3 Net Income

24 October 2007

NEW YORK: Omnicom Group tightened its grip on the topmost rung of the world's agency ladder with a soaring 14% uplift in global net income to $202 million (€141.77m; £98.56m) during the third quarter. Revenues rose 12% to $3.1 billion year-on-year, bettering analysts' forecasts on all counts.

Over the January-September 2007 period, the marketing conglomerate's net income rose almost 13% to $587m on an 11% increase in revenue to almost $9.1bn.

Domestic revenue for Q3 rose 7.5% to $1.6bn, while the uplift in overseas gross income bettered 17% to $1.5bn.

The firm's glittering set of numbers overshadows the performance of its nearest rival, the London-headquartered WPP Group.

Earlier this month WPP managed an uninspired 4.9% revenue hike to $3.03bn - disappointing the entrail-rakers and blaming the weakness of the US dollar for retarding its revenue growth.

Data sourced from AdWeek (USA); additional content by WARC staff