26 October 2000

Two US-owned global ad agency networks, Omnicom and Interpublic, yesterday posted double-digit increases in net income for the year’s third quarter.

New York-based Omnicom achieved a 22% increase in net income to $85.7 million, compared with the same period in 1999; while global gross revenues rose by 20% to $1.45 billion. The fiscal to date shows net income up 47% to $356.6m and a 20% increase in revenue to $4.4bn. The latter figure was boosted by a one-off payment of $110m for the sale of a stake in subsidiary cyber-shop Razorfish.

Interpublic reported a 17% rise in net income to $79m and worldwide revenues climbed 13% to $1.3bn. In the year to date, there was a 16% increase in net income to $308.9 million, with revenue up 16% to $3.9 billion.

News source: Advertising Age - Daily Deadline