Omnicom Group Earnings: Here’s Why Investors are Buying Shares Now
Omnicom Group Inc. (NYSE:OMC) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0%.
Omnicom Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.86% to $1.09 in the quarter versus EPS of $1.02 in the year-earlier quarter.
Revenue: Rose 2.13% to $3.64 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Omnicom Group Inc. reported adjusted EPS income of $1.09 per share. By that measure, the company beat the mean analyst estimate of $1.08. It missed the average revenue estimate of $3.65 billion.
Quoting Management: “On a global basis, our top and bottom line was consistent with our internal forecast. And as you can see in our deck, organic growth was 2.8%, and margins increased during the quarter.
Regionally, our performance broadly reflected the different macroeconomic conditions in global markets. Our business in the United States continues to grow at a steady pace that is slightly faster than the overall economy. In Asia and Latin America, we’re experiencing stronger growth. And as you might expect, the Eurozone remains a key geographic challenge.” said John D. Wren, Chief Executive Officer, President and Director.
Key Stats (on next page)…