Omnicom Group (OMC) Reports Mixed Results

Omnicom Group Inc. OMC on Tuesday morning released financial results that beat Wall Street earnings expectations but missed revenue estimates Omnicom Group Inc. (OMC) reported that its 2nd quarter net income rose 4.2% to $243.3 million, or 79 cents per share, up from $233.4 million, or 75 cents per share, a year earlier. Revenue climbed 5.9% to $3.04 billion, up from $2.87 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 77 cents per share, on revenue of $2.95 billion. Analysts covering the stock have a consensus price target of $46.43 per share. New York city based Omnicom Group Inc., along with its subsidiaries, offers a variety of marketing, advertising and other corporate communication services. Read more from Benzinga's Company news.