Omnicom tops Street 1Q forecasts

NEW YORK (AP) _ Omnicom Group Inc. (OMC) on Tuesday reported first-quarter profit of $241.8 million.

On a per-share basis, the New York-based company said it had net income of $1.02. Earnings, adjusted for non-recurring gains, came to 97 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.

The advertising company posted revenue of $3.59 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $3.56 billion.

Omnicom shares have increased 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 5 percent. The stock has climbed almost 3 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OMC at https://www.zacks.com/ap/OMC

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