Its shares, listed on the New York Stock Exchange, were trading up by 9.32%, or $4.40, at $51.61. As well as the 9% rise in earnings to $187.3m, Omnicom's auditor, KPMG, said that it had not advised the company of any changes to be made to the way it accounts for its internet business -- one of the areas that had been brought into question by an article in the Wall Street Journal.
However, the share price is still a long way off Omnicom's 52-week high of $97.35, recorded in April. Omnicom saw its share price plummet after questions were raised about its accounting practices.
The fate of the world's third-largest advertising group contrasted strongly with that of the Interpublic Group of Companies, the second largest advertising group in the world. After losing more than 24% from its share price yesterday, it saw a further 12% wiped off when the market opened this morning.
Interpublic hit a new 52-week low of $12.75, before regaining some of its value to trade at $13.21, $1.78 off yesterday's close.
Interpublic had been due to post its financial results on August 5, but said it was delaying the announcement at the request of its audit committee, sparking fears about its accounting precedures.
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