Omnicom Beats Q1 Earnings Estimates, Revenues Miss
New York-based Omnicom Group Inc OMC is one of the largest advertising, marketing and corporate communications companies in the world. OMC is expanding its global footprint and is moving into new service areas by leveraging its digital and analytical capabilities and partnering with innovative technology firms in key markets.
However, OMC forms an integral part of the communications industry, which is highly competitive in nature and is susceptible to market risks of losing contracts related to media purchases and production costs. With rising operating costs and adverse currency translation effects gradually shrinking margins, investors have been eagerly waiting for the company’s latest earnings report.
Currently, OMC has a Zacks Rank #2 (Buy), but that could definitely change following its earnings report, which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: OMC beat on earnings .The Zacks Consensus Estimate called for EPS of 87 cents, and the company reported EPS of 90 cents.
Revenue: Total revenue missed. OMC posted total revenue of $3,499.1 million, compared with Zacks Consensus Estimate of $3,504 million.
Key Stats to Note: OMC reported healthy organic growth across all regions except Latin America.
Stock Price: Shares did not show any change in the pre-market trading following the release at the time of this write-up.
Check back our full write up on this OMC earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
OMNICOM GRP (OMC): Free Stock Analysis Report
To read this article on Zacks.com click here.
