Omnicom Group Inc. (OMC) has reported its financial results for the second quarter, with a decline in profits compared to the same period last year, though the results surpassed Wall Street expectations.
The company recorded a net income of $328.1 million, or $1.65 per share, for the quarter. This is a decrease from the $366.3 million, or $1.82 per share, reported in the second quarter of the previous year.
On an adjusted basis, excluding special items, Omnicom Group Inc. posted earnings of $386.9 million, or $1.95 per share, for the period.
According to Thomson Reuters, analysts had anticipated earnings of $1.93 per share on average, typically excluding one-time items.
Quarterly revenue increased by 6.6%, reaching $3.85 billion, up from $3.61 billion in the same quarter of the previous year.
Summary of Omnicom Group Inc.'s second-quarter results (GAAP):
- Earnings: $328.1 million, compared to $366.3 million last year.
- Earnings per share (EPS): $1.65, compared to $1.82 last year.
- Revenue: $3.85 billion, compared to $3.61 billion last year.
