Omnicom's Q2 PR revenue up 7.1%

NEW YORK: Omnicom Group reported a 7.1% increase in global PR revenue for Q2, year-over-year, to $311.7 million. Organic PR revenue increased 1.3% during Q2.

NEW YORK: Omnicom Group reported a 7.1% increase in global PR revenue for Q2, year-over-year, to $311.7 million. Organic PR revenue increased 1.3% during Q2.

Organic revenue for Omnicom overall was up 7.2%, according to Randall Weisenburger, CFO of Omnicom Group, during this morning's conference call.

“With regard to organic growth, we had a very strong quarter,” he explained. “Our agencies are doing very well in the new business front, and on expanding the scope of services that they are providing clients, especially with respect to the use of new technologies.”

In April, PRWeek reported that Omnicom's Q1 revenue from PR grew by 3.9% year-over-year, to $286.4 million. During Q1 2011, Omnicom's Porter Novelli acquired tech PR firm Voce Communications, and Brodeur Partners bought back a majority stake from the holding company.

The holding company's 2010 annual revenue from PR increased by 6.5% year-over-year, to $1.1 billion. Other Omnicom agencies include Fleishman-Hillard, Ketchum, and Cone.

Omnicom's overall Q2 global revenue increased 14.7% year-over-year, to $3.49 billion. Apart from PR, the holding company also operates businesses in advertising, CRM, and specialty markets. Global net income increased 13.1% to $275.1 million, compared to $243.3 million in the second quarter of 2010.

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