Omnicom (OMC) Stock Slumps on Q2 Revenue Miss

Omnicom (OMC) stock is falling in pre-market trading Thursday after the advertising and marketing company reported weaker-than-expected revenue for the 2016 second quarter.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Omnicom Group (OMC) - Get Report are sliding 2.19% to $83.10 in pre-market trading Thursday after the company reported 2016 second quarter revenue that fell short of analysts' projections.

Before today's opening bell, the New York-based advertising and marketing company posted revenue of $3.88 billion, lower than Wall Street's estimates of $3.91 billion. But revenue increased 2.1% from last year.

Earnings of $1.36 per share topped analysts' expectations of $1.33 per share.

Revenue was hurt by foreign exchange rates, according to a statement.

The increase in revenue year-over-year was helped by organic growth and acquisitions.

Additionally, advertising revenue rose 7.7%, public relations increased 0.1% and specialty communications grew 4.4%.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on the stock.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and notable return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: OMC

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