By sean larkin

Omnicom’s fourth quarter revenues increased 2.1% year-over-year to hit $4.24bn but unforeseen political headwinds resulting in a stronger-than-expected US dollar meant it missed earlier forecasts, as its international business growth outpaced that in its domestic base. Management, howeever, remain pleased with its increasingly diversified revenue stream.

The results fell shy of earlier forecasts of a$4.26bn, with the New York-based network agency today (February 7) reporting that the “negative impact of foreign exchange” –ie the impact of political events such as Brexit leading to a strengthened US dollar –meant its like-for-like revenue haul had decreased 1.8%.

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Source: The Drum