Omnicom Group Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Omnicom Group Inc. (OMC) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $173.8 million, or $0.83 per share. This compares with $287.8 million, or $1.33 per share, in last year's first quarter.

Excluding items, Omnicom Group Inc. reported adjusted earnings of $292.0 million or $1.39 per share for the period.

Analysts on average had expected the company to earn $1.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.6% to $3.41 billion from $3.43 billion last year.

Omnicom Group Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $173.8 Mln. vs. $287.8 Mln. last year. -EPS (Q1): $0.83 vs. $1.33 last year. -Analyst Estimates: $1.30 -Revenue (Q1): $3.41 Bln vs. $3.43 Bln last year.