Omnicom posts 'resilient' organic growth of 3.3% in September quarter

Chris Pash
By Chris Pash | 18 October 2023
Credit: Lopez Robin via Unsplash

Omnicom posted "strong" organic revenue growth of 3.3% in the September quarter, with notable performances in Advertising & Media, Precision Marketing and Healthcare.

Reported revenue in the third quarter of 2023 increased $US134.7 million, or 3.9%, to $3.578.1 billion, ahead of market forecasts. 

"Our year-to-date organic growth of 4% remains in line with our full-year expectations, which reflects the resiliency of our business even in periods of economic uncertainty," says CEO John Wren.

"Omnicom continued to post strong profitability and earnings growth in the quarter, and our recent business wins validate the benefits of our client strategy in this rapidly evolving marketplace.

"We are very well positioned for a recovery in business conditions, with a strong balance sheet and leading creativity in all of our service disciplines."

New business momentum include Uber, HSBC, Beiersdorf, Novartis, Under Armour, Amazon, and Telstra in Australia.

The company says Omni's adoption of generative AI capabilities through Omni Assist is already delivering enhanced value.

Omnicom is the second of the big global advertising groups to report September quarter results. Publicis Groupe last week posted a 5.3% lift in organic growth, driven by bigger market share and strong wins in media, data and technology.

A slide form Omnicom's investor presentation:

omnicom sept q 2023 income from investor presentation

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