Omnicom Group reports 5% increase in revenue in Q4FY23

Omnicom Group reported a 5% increase in its revenue for Q4FY23 to $4,060.9 million from $3,868.2 million. 

The annual revenue of Omnicom stood at $14,692.9 million.

EBITA for this quarter stood at $668.1 million, which is an increase from 2022’s $662.7 million.

Operating expenses also increased by 5.9% from the fourth quarter of 2022, and stood at $3,414.2 million.

The network remarked that the revenue generated by Omnicom’s advertising and media wing increased by 9.3% from the previous quarter’s revenue. Healthcare, public relations and commerce and branding increased by 3.6%, 1.0% and 1.1% respectively.

John Wren, chairman and chief executive officer of Omnicom, said, “Looking out to the full year 2024, we are all set with our fundamentals, tremendous opportunities in digital commerce and retail media from our Flywheel acquisition, and momentum in new business wins. Our accelerated investments in analytics and AI will enhance our ability to drive the best outcomes for our clients, while shareholders remain supported by our profitable operations and balanced deployment of capital through dividends, acquisitions, and share repurchases.”

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