Omnicom Group's worldwide revenue dropped by 1.1% to $3.7 billion in the third quarter of 2015, compared with the same period last year.
The holding company, which owns the owner of the BBDO and OMD networks, saw organic growth of 6.1%, a small increase in revenue from acquisitions, and a decline in revenue, which it attributed to "the negative impact of foreign exchange rates of 7.2% when compared to the third quarter of 2014."
In its financial results for the third quarter of 2015, Omnicom’s operating income dropped by $5.3 million, or 1.2%, to $428.3 million in the third quarter of 2015.
The same period also saw its net income decrease 1.8% to $239.3 million.
In terms of sector, Omnicom's organic revenue rose by 9.9% in advertising in the third quarter of 2015, compared with the same period last year. CRM rose 2.8%, specialty communications increased 5.4% and PR dropped by 1.5%.
Organic revenue in the same period grew 6.3% in North America, 9.1 per cent in the UK, 4.5% in Europe, 8.6% in Asia Pacific, and 0.4% in Africa and the Middle East. In Latin America organic revenue dropped by 6.9%.
For the nine months ending 30 September, Omnicom’s worldwide revenue dropped 1.3% to $11 billion compared with the same period in 2014.
This article first appeared on campaignlive.co.uk.
