Omnicom Group saw a strong Q2 for financial growth, the company reported in its latest financial report on Tuesday.
The company saw organic revenue growth of 5.2% year-over-year for its second quarter financials of 2024, ending on June 30.
Operating expenses meanwhile increased 9.3% year-over-year to $3,343.5 million. Salaries and related costs also increased by 3.7% in the quarter, mainly due to the company’s acquisition of digital commerce company Flywheel Digital, earlier this year.
Omnicom’s advertising and media segment grew 7.8% in Q2, while its experiential sector surged ahead with 17.6% growth. Precision marketing increased by 1.4%, while public relations (0.9%) and execution and support (1.2%) were also Omnicom segments that saw growth in Q2. The gains were partially offset by a 3.8% decline for branding and retail commerce.
Latin America is the region that continues to see the most growth for Omnicom, rising 24.5% in Q2. It was followed by 8% growth in the Middle East and Africa, 6.9% in the UK, 6.3% in the U.S., and 4.5% in Euro markets. The company also saw declines of 8.3% in other North America markets and a slight 0.1% dip for the Asia Pacific region.
The company also noted that it’s expanded its generative AI solutions and e-commerce offerings, including the recent launch of its ArtBotAI, a content platform which leverages generative AI large language models