Omnicom (OMC) Dives on Dismal Q2 Earnings, Merger with Interpublic
Omnicom Group dropped its share prices by 4.31 percent on Thursday to end at $70.86 apiece as investors unloaded portfolios following dismal earnings performance in the second quarter of the year.
In its financial statement, Omnicom Group Inc. (NYSE:OMC) said net income during the period declined by 21.5 percent to $257.6 million from $328.1 million in the same period last year. Revenues, on the other hand, inched up by 4.2 percent to $4.015 billion from $3.853 billion year-on-year.
On the same day, Omnicom Group Inc. (NYSE:OMC) and Interpublic Group of Companies Inc. (NYSE:IPG) announced securing the green light of Australia's anti-competition watchdog for their planned merger.
A social media specialist crafting new ideas for healthcare marketing campaigns on a laptop.
In a statement on Thursday, Interpublic Group of Companies Inc. (NYSE:IPG) announced that the Australian Competition and Consumer Commission (ACCC) has officially granted clearance for Omnicom Group Inc.'s (NYSE:OMC) to acquire IPG.
The approval brings the total number of antitrust approvals to 14 out of the 18 required for closing. The companies said they remain on track to complete the transaction in the second half of 2025.
While we acknowledge the potential of OMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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