Omnicom Shares Drop 6% Following Q2 Revenue Miss
<p><a href='https://financialmodelingprep.com/financial-summary/OMC'>Omnicom Group (NYSE:OMC)</a> stock dropped more than 6% pre-market today after the company released its Q2 financial results, which fell short of Street expectations. The company reported EPS of $1.81, slightly exceeding the Street estimate of $1.80. However, revenue only grew by 1.2% compared to the previous year, reaching $3.61 billion, which was lower than the Street estimate of $3.67 billion.</p>
<p>CEO John Wren acknowledged the prevailing economic uncertainty but expressed optimism about the company's prospects, stating that they are entering a dynamic and promising new era.</p>
<p>In terms of organic revenue, Omnicom Group saw a year-over-year increase of 3.4%, slightly below the anticipated growth of 3.7% by the Street. Additionally, while the consensus forecasted an operating margin of 15.8%, the Q2 report revealed a margin of 15.3%.</p>

NYSE:OMC