Omnicom Group reports 11.3% global revenue growth in Q2 results
• Omnicom Group's regional markets also saw an increase in the second quarter
Omnicom Group Inc. has reported double-digit organic revenue growth in its second-quarter results, ending on June 30, 2022.
Worldwide revenue growth in the second quarter of 2022 compared to the second quarter of 2021 was led by an increase in revenue from organic growth of $403.8 million, or 11.3%.
Organic growth increased across all of the New York City-based holding company's fundamental disciplines, including 8.2% for Advertising and Media, 15.8% for Public Relations, 21.0% for Precision Marketing, 9.2% for Healthcare, 9.3% for Execution and Support, 11.2% for Commerce and Brand Consulting, and 36.6% for Experiential.
Omnicom Group's regional markets also saw an increase in the second quarter: 10.7% for the United States, 15.1% for the European markets and Other Europe, 4.7% for the Asia Pacific, 12.0% for the United Kingdom, 12.5% for Other North America, 14.0% for Latin America and 28.3% for the Middle East and Africa.
However, growth in the Asia Pacific was negatively impacted by COVID-19 lockdowns in China.
Acquisition revenue, net of disposition revenue, was a decrease of $239.8 million, or 6.7%, reflecting dispositions in the Advertising and Media discipline in the second quarter of 2021 and the disposition of the company's businesses in Russia in the first quarter of 2022.
Omnicom has seen an increase in global revenue of $US3.56 billion in the second quarter of 2022, in contrast to the $US3.41 billion revenue reported in the first quarter results.
The leading media trade publication in Australia.
Get our top stories straight to your inbox daily by signing up to our Newsletter
John Wren, chairman and chief executive officer of Omnicom Group Inc., said: "We performed well on every metric this quarter, led again by double-digit organic revenue growth."
"The changes we have made in our portfolio are delivering better results for our clients as we are uniquely qualified to help them digitally transform their business, navigate complexity, and expand in high-growth areas like retail media and e-commerce.
"As we enter the second half of the year, we are in a strong financial position, and our company is well-prepared to manage through economic headwinds," he added.
