BUZZ-Omnicom climbs as quarterly revenue beats estimates

Reuters
02/20
BUZZ-Omnicom climbs as quarterly revenue beats estimates

** Shares of advertising group Omnicom OMC.N up ~13% at $79.40 after co reports upbeat quarterly results

** OMC stock on track for biggest daily percentage gain since February 2022

** Co, late on Wednesday, posted Q4 revenue of $5.53 billion, topping analysts' average estimate of $5.04 billion - data compiled by LSEG

** The results are the first after OMC closed its $13.25 billion acquisition of rival Interpublic Group

** Average rating of 13 analysts covering OMC is "buy"; their median PT is $95, down from $103 a month ago

** OMC is down ~2.2% YTD vs. the Nasdaq Composite Index's .IXIC 2.4% decline

(Reporting by Chibuike Oguh in New York)

((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))

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