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Omnicom today reported a 4.4 percent slide in first-quarter revenues to $3.5B, slippage that CEO John Wren blames on negative foreign currency rate comparisons and divestitures.
Net income was flat at $263.2M.
On a regional basis, OMC's US revenues decreased 0.2 percent to $1.9B. Europe was down 14.8 percent to $606.8M, UK fell 5.4 percent to $338.7M and Asia/Pacific tanked 6.6 percent to $366.2M.
The PR group, which includes FleishmanHillard, Porter Novelli, Ketchum, Portland, Cone and Marina Maher Communications, fell 3.5 percent to $334.2M and 0.5 percent organically.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
