Omnicom Group Earnings: Powering Ahead
S&P 500 (NYSE:SPY) component Omnicom Group Inc. (NYSE:OMC) reported its results for the third quarter. Omnicom Group provides professional, advertising, marketing, and corporate communications services.
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Omnicom Group Inc. Earnings Cheat Sheet
Results: Net income for Omnicom Group Inc. rose to $203.9 million (74 cents per share) vs. $203.7 million (72 cents per share) in the same quarter a year earlier. This marks a rise of 0.1% from the year-earlier quarter.
Revenue: Rose 0.7% to $3.41 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Omnicom Group Inc. fell short of the mean analyst estimate of 77 cents per share. It fell short of the average revenue estimate of $3.53 billion.
The company has now seen its net income increase for three consecutive quarters. In the second quarter, net income rose 2.8% and in the first quarter, the figure rose 1.3%.
Revenue has risen the past four quarters. Revenue increased 2.1% to $3.56 billion in the second quarter. The figure rose 5% in the first quarter from the year earlier and climbed 7.4% in the fourth quarter of the last fiscal year from the year-ago quarter.
After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the second quarter, it topped the mark by one cent, and in the first quarter, it was ahead by 3 cents.
Looking Forward: Expectations for the company’s next-quarter results are lower than they have been. Over the past sixty days, the average estimate for fourth quarter has fallen from $1.14 per share to $1.12. The average estimate for the fiscal year is now $3.63 per share, down from $3.70 sixty days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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