Omnicom Group today reported a 27.4 percent drop in Q4 net income to $254.4M, following a $106.3M charge for enactment of the “Tax Cuts and Jobs Act.” Excluding the charge, net was up 3.0 percent.
Q4 Revenues slipped 1.5 percent to $4.2B. Organic growth advanced 1.6 percent, sparked by a robust 8.2 percent across Europe.
North American organic growth fell 0.8 percent, while the UK dipped 0.7 percent and Latin America slipped 0.3 percent.
The PR units chalked up flat revenues of $1.4B for the full year.
OMC's stock is down eight percent to $76.16 on the earnings news.