postive

Ad Giant Omnicom: Stimulus Spending Could Boost Media by End of the Year

Peter Kafka in Media on April 27, 2009 at 11:23 am PT

Ad giant Omnicom reported that its revenue dropped 14 percent and profits declined by 21 percent in the last quarter, but investors are bidding up the stock in a down market. That’s presumably because the profit slump isn’t as bad as Wall Street expected. But maybe investors are buying some of the optimism CEO John Wren doled out–sparingly–during the company’s earnings call: He thinks stimulus spending could lead to more advertising spending by the end of the year.