John Wren
John Wren

Omnicom posted a 1.9 percent drop in Q3 revenues to $3.7B largely due to a lack of M&A activity and sale of underperforming assets, according to chief John Wren. Net income rose 3.7 percent to $263.6M.

Wren told investors OMC is counseling clients about navigating the technological disruption that is recasting the communications business.

He views that upheaval as an opportunity for OMC to help clients transform the way they approach customers, offering them “the most creative minds with access to the latest tools in the marketplace.”

OMC’s PR group, which includes FleishmanHillard, Porter Novelli and Ketchum, slipped 0.5 percent to $345.9M. Organic growth weighed in at 0.4 percent.

The firm’s North American unit fell 6.5 percent during Q3 with revenues of $2.1B, and Asia-Pacific slipped 1.8 percent to $411.2M.

On the plus side, Europe (excluding the UK) posted an 11.7 percent gain to $660M, while Britain advanced 2.8 percent to $357.6M.