NEW YORK (TheStreet) -- Omnicom Group
(OMC - Get Report) shares are up 1.1% to $72.10 on Tuesday after reporting advertising revenue growth in the second quarter that led to better than expected revenue and earnings during the period.
The global advertising company reported a 13% year over year quarterly rise in net income to $318.9 million, or $1.23 per diluted share, 7 cents better than analysts were expecting.
Global revenue increased 6.4% from the year ago period to $3.87 billion, better than the $3.8 billion analysts expected.
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TheStreet Ratings team rates OMNICOM GROUP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:"We rate OMNICOM GROUP (OMC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, reasonable valuation levels, growth in earnings per share and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
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