Omnicom Group Inc. (OMC - Free Report) reported first-quarter 2018 results (ended Mar 31, 2018) earnings per share of $1.14 (on an adjusted basis), beating the Zacks Consensus Estimate of $1.05. Earnings also increased 11.8% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Omnicom depicted an optimistic picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for first-quarter 2018 earnings increase 6.1% over the last 60 days.
The company also has an impressive earnings history having outperformed the Zacks Consensus Estimate in all of the last four quarters with an average beat of 1.3%.
Revenues Higher Than Expected
Omnicom recorded revenues of $3,629.6 million which outperformed the Zacks Consensus Estimate of $3,613 million. Moreover, revenues compared favorably with the year-ago figure of $3,587.4 million.
Key Stats to Note: Omnicom reported organic growth of 2.4% in first-quarter 2018, which showed an improvement from 1.6% organic growth in fourth-quarter 2017. Moreover, as a result of the new tax law (Tax Cuts and Jobs Act), the company enjoyed a lower income tax rate of 24.3% in the reported quarter compared to 29.2% in the year-ago quarter.
Zacks Rank: Currently, Omnicom has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Omnicom earnings report later!
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
Click here to access these stocks. >>