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| John Wren |
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.
The Marina Maher Communications, Portland, Mercury, Porter Novelli, Ketchum, and FleishmanHillard PR unit registered 3.9 percent growth to $390.3M.
It slipped 1.1 percent on an organic basis.
OMC’s operating income rose 38.2 percent to $478.9M, while net income increased 39.7 percent to $318.6M.
Wren is bullish on 2024 growth, a year that will feature advertising spending for the Paris Olympics and US presidential elections.
He said OMC’s “excellent new business performance and, when combined with the new opportunities we are pursuing, give us great confidence in the future.”
WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets.
Why financial planning always plays a crucial role in every PR firm’s success.
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.”
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