Why Omnicom Group Shares Are Trading Higher Afterhours

  • Omnicom Group Inc. OMC reported a second-quarter revenue decline of 0.12% year-over-year to $3.57 billion, +11.3% on an organic basis, beating the consensus estimate of $3.47 billion.
  • Organic growth increased year-over-year across all fundamental disciplines, including: 8.2% for Advertising & Media, 15.8% for Public Relations, 21.0% for Precision Marketing, 9.2% for Healthcare, 9.3% for Execution & Support, 11.2% for Commerce & Brand Consulting, and 36.6% for Experiential.
  • EPS was $1.68, beating the consensus of $1.58.
  • Operating profit decreased by 4.7% Y/Y to $541.6 million, and the margin contracted by 73 bps to 15.2%.
  • EBITDA declined by 4.7% Y/Y to $562.4 million, and the margin was 15.8%, down 74 bps.
  • Operating expenses increased 0.7% Y/Y to $3.03 billion.
  • “The changes we have made in our portfolio are delivering better results for our clients as we are uniquely qualified to help them digitally transform their business, navigate complexity, and expand in high-growth areas like retail media and e-commerce. As we enter the second half of the year, we are in a strong financial position, and our company is well-prepared to manage through economic headwinds,” commented John Wren, Chairman and Chief Executive Officer.
  • Price Action: OMC shares are trading higher by 5.47% at $71.10 during the post-market session on Tuesday.

Image and article originally from www.benzinga.com. Read the original article here.