U.S. advertising companies Omnicom Group Inc and Interpublic Group of Cos reported better-than-expected revenue, mainly due to higher ad spending in their home market.Omnicom, the largest U.S. advertising company and owner of agencies such as BBDO Worldwide and Goodby, Silverstein & Partners, said U.S. revenue rose 4 percent in the first quarter.Closest rival Interpublic, home to agencies including McCann Erickson and Draftfcb, said its U.S. revenue increased 5 percent."We saw solid contributions from across our agency portfolio, with strength in the U.S., as well as significant growth in Latin America and Asia," Interpublic Chief Executive Michael Roth said in a statement on Tuesday.
Omnicom Group Inc. (Omnicom) is a holding company, providing professional services to clients through multiple agencies. Shares of OMC remained unchanged at $71.49. In the past year, the shares have traded as low as $58.47 and as high as $76.87. On average, 1552170 shares of OMC exchange hands on a given day and today's volume is recorded at 2550.
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