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Omnicom 3rd-quarter earnings, revenue nearly flat

NEW YORK -- Advertising and marketing company Omnicom Group Inc. reported nearly flat earnings and revenue compared with a year earlier, as U.S. revenue grew but international revenue declined.

Net income available to common shareholders was $199.4 million, or 74 cents per share, in the July-September period. That's down a fraction from $201.4 million, or 72 cents per share, a year earlier. Omnicom had fewer outstanding shares in the latest quarter, which increases earnings per share.

Revenue edged up less than 1 percent to $3.41 billion from $3.38 billion.

Analysts, on average, were expecting earnings of 72 cents per share on revenue of $3.43 billion, according to FactSet.

The New York company's U.S. revenue increased 3 percent to $1.76 billion. International revenue slid 2 percent to $1.65 billion.

Jefferies analyst Will Smith said he was surprised by weakness in the company's U.K. business despite the Olympics. He rates Omnicom "Hold" with a target price of $45.

Shares fell $1.02, or 2 percent, to $51.44 in morning trading.