Profile of the Week: Omnicom Group

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What recession? Omnicom Group reported a 19% rise in second-quarter net income of $151.4 million, or 81 cents a share, up from $127.4 million or 70 cents a share a year ago. Revenue jumped 15% to $1.75 billion. That's in stark contrast to rival Interpublic Group of Cos., which reported a quarterly net loss of $110.2 million vs. net income of $166.4 million a year earlier; revenue fell 4.3% to $1.74 billion (see story, P. 1). Interpublic's purchase of True North Communications was supposed to put Interpublic on top, but Omnicom edged it out in revenue. Omnicom stock rose strongly for the week; Interpublic hit a three-year low.
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