Ad firm Omnicom misses revenue estimates as economic uncertainty weighs
Omnicom witnessed declines in revenue growth across segments including healthcare, public relations, branding and retail, in the quarter, countering a 7.2% rise in the media and advertising business, the company's biggest. As businesses rein in ad budgets amid geopolitical tensions and stubborn inflation, the slowdown in client spending is weighing on revenue growth for major advertising firms like Omnicom. Omnicom's revenue stood at $3.69 billion in the quarter ended March 31, compared with analysts' average estimate of $3.72 billion, according to data compiled by LSEG.
