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| John Wren |
Omnicom reported flat Q3 revenues of $3.4B and a 2.5 percent boost in net income to $364.4M as the ad/PR combine wrestled with the challenging global economic environment.
CEO John Wren said the performance shows that Omnicom "can navigate through current business uncertainty."
North America was Omnicom's top performer as revenues grew 8.4 percent to $1.9B. That compared to a 15.8 percent slide to $540M in continental Europe, a 6.9 percent dip to $427M in Asia Pacific and a 3.9 percent drop to $368.3M in the UK.
The PR group (FleishmanHillard, Ketchum, Marina Maher Communications, Portland, Mercury and Porter Novelli) advanced 8.8 percent to $391.2M. It was up 12.6 percent on an organic basis.
For the nine-month period, the PR segment reported 5.0 percent growth to $1.1B and a 7.3 percent rise organically.
Wren said there is one certainty in the current unsettled global condition: "the path from marketer to consumer is becoming exceedingly complex."
He is confident that "Omnicom has the talent and capabilities to be the trusted advisor to drive success for our clients."
Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
Stagwell CEO Mark Penn reported Q4 net revenues dipped 5.6 percent to $551.1M during a “challenging year for marketing services and digital transformation.”
Why M&A activity in the PR and marketing sector could pick up in 2024.
WPP reported Q4 revenues inched ahead 0.3 percent to $4.1B as CEO Mark Read wrapped up a year that he said was more challenging than expected due to cutbacks, mainly by technology clients.
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