Omnicom Posts First-Quarter Growth

Holding Company's Net Income Rose 10%, Revenue Hits $2.5 Billion

By Published on .

NEW YORK (AdAge.com) -- Omnicom Group, the largest ad-agency holding company, continued its consistent financial performance, posting 10% growth in net income over the first quarter of the year.
John Wren
John Wren

Omnicom's worldwide revenue grew 7% to $2.5 billion, while net income rose to $165 million. Domestic revenue increased 9% to 1.4 billion and international revenue rose 4% to $1.1 billion.

Race for China
In a call with analysts this morning, President-CEO John Wren said the company's efforts to increase its presence in China, a key emerging market in the ad business, are moving quickly. No. 2 WPP Group and No. 4 Publicis Groupe, along with Omnicom, have been snapping up agencies there.

"We are probably the third-largest in China, which is a high-growth market for our competitors and there is no reason in the world that, given our initiatives, we won't be as strong there as we are in other places," Mr. Wren said. "It's really a glass-half-full story because, as we get up to our proper weight class in those markets, we should be enjoying wins and growth that's coming at a greater pace that in some of the more mature markets."
In this article:
Most Popular