Omnicom Group records positive organic growth for Q2 2024
Omnicom Group has released its second quarter results for 2024, snagging US$3.9 billion in revenue.
The marketing communications organisation has experienced 5.2% (US$188.3 million) in organic growth and a net income of US$ 328.1 million.
“Our 5.2% organic growth in the second quarter drove solid growth in adjusted EBITA & EPS, with good performance in our larger markets and disciplines,” said John Wren, Omnicom’s chief executive officer and chairman.
According to Wren, the results are a reflection of the company’s ongoing commitment to strategic investments and alignment amongst its agencies.
“To serve our clients with the best, most advanced capabilities, we continue to strategically align our agencies and invest in robust data and technology, scaled content and production, e-commerce, and retail and performance media – all embedded in our industry-leading Omni platform,” Wren said.
Source: Omnicom Group
But while its net income result may be a step down from its 2023 number of US$ 366.3 million, the corporation’s revenue is a win – an increase from its US$3,609.9 million in 2023.
Experiential was the main discipline to herald the company’s growth, contributing 17.6%.
Other disciplines provided the following: advertising and media with 7.8%, healthcare with 2.0%, precision marketing with 1.4%, execution and support with 1.2%, and public relations with 0.9%.
Retail commerce and branding experienced a 3.8% decline.
The results also covered Omnicom’s organic growth within specific regions in comparison to its 2023 results. Overall, it experienced 0.1% and 8.3% drops in Asia Pacific and “Other North America” respectively, while also seeing growth in the Middle East and Africa by 8.0%, Latin America with 24.5%, the United Kingdom by 6.9%, other Europe and Euro Markets with 4.5%, and 6.3% in the United States.
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Matthew is the editorial assistant at Mumbrella. He joined the company at the end of September 2023.
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