Omnicom reported organic revenue growing 3.4% to $US3.61 billion in the June quarter, ahead of forecasts by market analysts.
The first of the global advertising groups to report June quarter results says the 4.3% year-to-date growth put the company “comfortably” on track with full year expectation of 3%-5%.
Key parts of the company are “performing solidly" despite challenging macroeconomic conditions.
"While the balance of the year will continue to see economic uncertainty, we are entering a dynamic and exciting new era for our company,” says CEO John Wren.
Omnicom is continuing investment in first-party data, clean room technology and retail media capabilities.
Wren says the company is developing generative AI through strategic partnerships and client development.
"Omnicom has secured leading positions in generative AI technologies and partnerships to deliver on our promise to achieve the best outcomes for our clients and increase the operational efficiency of our company,” says Wren.
Organic growth by discipline in the June quarter: 5.1% for Advertising & Media; 9.2% for Experiential; 3.% for Healthcare; 2.3% for Precision Marketing; 2.4% for Commerce & Brand Consulting; and 0.1% for Public Relations.
By region: 2.4% for the US; 7.5% for Asia Pacific; 2.6% for Euro Markets & Other Europe; 8.4% for Other North America; 2.5% for the UK; 6.9% for Latin America; and 4.0% for the Middle East & Africa.
The June quarter 2023 numbers:
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