Strengthened by across-the-board growth and a 20% surge in revenue,
, the world's biggest advertising company, surpassed earnings estimates by a penny Tuesday.
New York-based Omnicom, which owns an array of prominent ad agency networks that include
, posted earnings of $79.7 million, or 45 cents per diluted share, excluding one-time gains, vs. $65.6 million, or 37 cents per share, a year ago. Analysts surveyed by
First Call/Thomson Financial
projected earnings of 44 cents per share.
Including a pre-tax realized gain of $110 million from the sale of a portion of its stake in interactive ad agency
, Omnicom reported net income of $143.5 million, or 78 cents per share.
Worldwide revenue jumped to $1.4 billion from $1.1 billion.
Domestic revenue increased 22% to $717.4 million from $587.2 million and international revenue rose 18% to $661.6 million from $559.7 million.
The strong quarter marks Omnicom's 35th consecutive quarter of year-over-year growth in revenue and earnings.
Shares of Omnicom were up 1 3/8, or 2%, to 86 11/16 in early trading Tuesday. (Omnicom closed up 4 5/8, or 5%, at 89 15/16.)