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Omnicom quarterly results beat estimates on ad market strength

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Omnicom Group Nyheter

Media Segment,Prolonged Period

The company's advertising and media segment, its largest by revenue, grew 7.8% compared to same period last year. Omnicom's revenue stood at $3.85 billion...

- 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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