Hotline: Omnicom Group reports first-quarter results

Omnicom Group has reported better-than-expected first-quarter results, with net income up 14 per cent to $208.7 million (£104.8 million) year on year, dispelling concerns that a soft US economy would impact on the sector.

The company saw strong growth in global revenue, which rose 18.3 per cent to $1.53 billion compared with $1.3 billion a year earlier. Domestic revenue, which accounts for 52 per cent of its business, increased by 7.6 per cent to $1.66 billion.

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