Omnicom Drops 10% Despite Improved Quarterly Results

(RTTNews) - Shares of Omnicom Group Inc. (OMC), an advertising and marketing communications services provider, are falling more than 10% Wednesday morning despite reporting improved quarterly results.

Profit in the second quarter increased to $366.3 million or $1.82 per share from $348.4 million or $1.68 per share in the same quarter a year ago. Analysts on average polled by Thomson-Reuters were expecting earnings of $1.80 per share.

Quarterly revenue rose to $3.609 billion from $3.567 billion last year.

OMC, currently at $87.8, has traded in the range of $61.85 - $99.23 in the last 52 weeks.