Omnicom Group’s Q3 revenues grew 7.1 percent to $3.4B due to the moderation of the impact of the COVID-19 pandemic on its communications offerings. Net income surged 13.5 percent to $355.6M.
CEO John Wren highlighted OMC’s robust 11.5 percent advance in organic revenues sparked by “a notable jump in CRM Precision Marketing from our digital transformation work.”
He said OMC’s creativity, operating systems and technologies such as OMNI is a mix that delivered results during the quarter and “will drive our ability to meet our clients' growing demands in an increasingly complex marketing landscape."
The Porter Novelli, Ketchum, Marina Maher Communications and FleishmanHillard PR group registered 10.4 percent Q3 growth to $359.4M and 10.5 percent on an organic basis.
A 6.8 percent growth spurt powered the PR group to more than $1B revenues for the nine-month period.
Overall, OMC’s US region, which generates 49.6 percent of revenues, slipped 3.3 percent to $1.7B despite a 7.7 percent advance in organic growth.
Wren warned that global economic conditions may continue to be volatile as long as COVID-19 remains a public health threat.
“We expect global economic performance and the performance of our businesses to vary by geography and discipline until the impact of the COVID-19 pandemic on the global economy subsides,” said Wren.