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Omnicom Posts Flat Profit

The advertising company's quarterly revenue grows 12%.


(OMC) - Get Omnicom Group Inc Report

posted a relatively flat first-quarter profit, but revenue grew.

The advertising company earned $128.58 million, or 69 cents a share, compared with $128.57 million, or 68 cents a share, in the prior-year quarter. Analysts were expecting 70 cents a share. Total revenue was $1.94 billion, up 12%.

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Operating expenses grew to $1.722 billion from $1.515 billion in the 2002 quarter.

Shares of New York-based Omnicom were up 0.5% at $63.60 in early trading Tuesday.