Omnicom (OMC) Q3 Earnings Surpass Estimates, Revenues Miss
Zacks Investment Research | Oct 14, 2019 11:03PM ET
Omnicom Group Inc. (NYSE:OMC) reported mixed third-quarter 2019 results wherein its earnings beat the Zacks Consensus Estimate but revenues missed the same.
Adjusted earnings of $1.32 per share beat the consensus mark by 2 cents and increased 6.5% on a year-over-year basis.
Total revenues of $3.6 billion missed the consensus estimate by $13 million and decreased 2.4% year over year on a reported basis. The year-over-year decrease was due to negative foreign exchange rate impact of 1.5% and decline in acquisition revenues, net of disposition revenues of 3.1%, offset by organic revenue growth of 2.2%.
Shares of Omnicom have gained 12.3% over the past year, against 8.6% decline of the Zacks Investment Research
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