Omnicom group reported stronger organic revenue growth from advertising and media across the Americas.
Global organic revenue was up 2.8% in the second quarter of 2019 when compared to the same second three months last year.
By market, organic growth was 3.2% in the US, 11.8% for Other North America, 5.7% in the UK, 1.5% for the Euro Markets and Other Europe, and 1.9% for Asia Pacific. Latin America fell 2.4% and the Middle East and Africa dropped 8.3%.
The US growth was led by advertising and media, plus healthcare and CRM Consumer Experience agencies. PR agencies were down slightly.
Australia wasn't mentioned directly. However, CEO John Wren told analysts in a briefing: "With many of our major markets in Asia Pacific facing difficult comps versus Q2 of 2018, organic growth was 1.9% with Japan and New Zealand having strong performances this quarter."
Net income per share for the second quarter increased eight US cents, or 5%, to $US1.68 a share compared to $US1.60 for the same three months in 2018. This beat analyst expectations by about seven US cents.
However, Omnicom's topline revenue fell 3.6% to $US3.72 billion from $US3.86 billion, mainly due to foreign currency movements, including a stronger US dollar, and a fall in earnings from acquisitions.
Net income increased $US6.5 million, or 1.8%, to $US370.7 million.
On the New York Stock Exchange, Omnicom shares closed down 2.9% to $US81.57. The shares have been trending higher in recent weeks, hitting a 12 month high of about $85, well above the year's low of $65.85.
By sector, advertising revenue increased 4.4%, CRM Consumer Experience 1.9%, CRM Execution & Support fell 2.6%, Public Relations dropped 1.3% and Healthcare jumped 8.4%.
"The results continue to demonstrate consistency and diversity of Omnicom's operations, our ability to deliver consumer-centric strategic business solutions to our clients and our best-in-industry creative talent combined with market leading digital, data and analytical expertise," CEO John Wren told analysts in a briefing.
The second quarter numbers:
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at email@example.com