Omnicom quarterly results beat estimates on ad market strength

- Omnicom Group beat Wall Street estimates for second-quarter profit and revenue on Tuesday, driven by strong growth in its advertising and media segment.

Omnicom's revenue stood at $3.85 billion in the quarter ended June 30, compared with analysts' estimate of $3.82 billion, according to LSEG data.The company's precision marketing segment which includes Flywheel, e-commerce cloud platform grew 1.4%. On an adjusted basis, the company earned $1.95 per share for the reported quarter, compared with expectations of $1.93 per share.

Cathie Wood's investment fund, Ark Invest sold at least $4.5 million worth of Nvidia stock this year, per The Wall Street Journal.

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