New York-based Omnicom Group has announced overnight the holdco had beaten market estimates for fourth-quarter revenue, helped by strong demand for its advertising and marketing services over the Christmas period.
Omnicom’s revenue rose five per cent to $US4.06 billion ($A6.2 billion) in the quarter ending December 31, versus London Stock Exchange estimates of $US3.99 billion ($A6.1 billion).
Full year growth for the global advertising group came in at 4.1 per cent.
Omnicom’s best performing region was Europe up 14.1 per cent. APAC (where Australia plays) up 10.9 per cent, UK up 5.8 per cent, Latin America up 13.7 per cent and a small rise of just 0.6 per cent for the US. However, the Middle East and Africa were down 17.3 per cent.
Commenting on the numbers, CEO John Wren (lead image) said: “Looking out to full year 2024, we are set up well with solid fundamentals, tremendous opportunities in digital commerce and retail media from our Flywheel acquisition, and momentum in new business wins.
“Our accelerated investments in analytics and AI will enhance our ability to drive the best outcomes for our clients, while shareholders remain supported by our profitable operations and balanced deployment of capital through dividends, acquisitions, and share repurchases.”
