Omnicom Group 3rd-quarter Profit Declines

NEW YORK (AP) — Omnicom Group Inc., one of the world's largest advertising and marketing conglomerates, said Wednesday its third-quarter profit declined as demand for marketing continued to be soft both domestically and abroad amid the weak economy.

Quarterly profit fell 23 percent to $165.6 million, or 53 cents per share, from $213.6 million, or 68 cents per share last year. That matched analyst expectations.

Revenue fell 14 percent to $2.84 billion from $3.32 billion last year. Analysts polled by Thomson Reuters, on average, predicted slightly higher revenue of $2.86 billion.

International revenue fell 16 percent to $1.35 billion while domestic revenue fell 13 percent to $1.49 billion.

New York-based Omnicom owns companies including global ad agencies DDB Worldwide and BBDO Worldwide as well as public-relations firms such as Fleishman-Hillard and Ketchum.