Thanks, John.
leading in platforms investments rapidly a are and our we've many As Omnicom, marketplace. in exciting our capabilities tools, is the changing current underway and to to at make you needed by driven made success heard, future things clients serve continue and just there and
model these our while did the to business of The results as solid delivering investments second that financial in is we make continue quarter. we strength
Let's performance on our beginning X. review Slide
impact by impact the revenue as in impact revenue If to QX of the on X.X% X%. Based growth impact expect we we net reported acquisition full approximate reported QX where revenue are foreign for due on Flywheel of year. of X.X%. will was disposition acquisition stay at for Organic currency X.X% the foreign XXXX. translation will for quarter of expected, the year strong currently, they be disposition X.X% January decreased XXXX smaller to by estimate and translation, and on was and transactions currency completed some the full The revenue and and we revenue from the cycling The negative for partially the rates positive date, of acquisition this offset primarily dispositions.
revenue turn let's review growth Slide discipline. to Now our organic by to X
driven quite global X.X%, businesses. in X.X%. was performance our media During again excellent media performance on the advertising at once grew and marketing growth quarter, advertising Precision and improved by strong
within we strong and double-digit a marketing We quarter. saw level. encountered agencies returns at this in wins spend more the project normal spending brought While later performance precision online half delays are performance client a consulting to starting second Flywheel, strong of as new our in expect a project-based some do
X% grew and growth U.S. performance the growth than returned and to the the for X%, election-related international half with in In growth agencies. approximately our that Public X%. U.S., U.S. was by up with quarter driven quarter Health both a work. little care more was of consistent relations during
branding for Olympics. and Experiential commerce Branding by and marketing to offset our declined our strong client XX.X%, our support agencies environment the which retail as field remains merchandising business, by difficult. X.X% grew was related grew X.X% by primarily strong Execution performance work by driven with a the business.
growth on to solid a quarter across Turning regions. our geographic X, Slide we had
posted grew U.S., X.X%. U.K. the and Our market, strong largest also Europe the growth.
QX strong Asia China, challenging in was our growth Latin its flat Pacific, XXXX however, streak. America comparison at to continued on business a while experiential
the usual. generally quarter. our is were sector X Slide as industry for revenue by Results stable year-to-date
and categories, beverage of our our which consumer at not we Looking an of and part driven products the year food was as Flywheel's revenue. increase total, percentage in by larger client mix, a saw prior
turn costs expenses. increased which with to acquisition of service look a quarter, staffing primarily let's grew the Slide January. our in at Flywheel Now our first reflect X salary-related for In levels,
point in ongoing of were strategic reflecting costs actions X these repositioning year-over-year, and employee global percentage However, as changes revenue a over our mix. down
especially connection costs that such level higher costs in grew in these revenue, media, our and with marketing. have as service of field disciplines in growth the a Third-party experiential
increased and costs our Third-party costs out-of-pocket related along clients. billed in to with business directly growth incidental
other and increased the acquisition. Occupancy Flywheel year-over-year, due costs to mostly
other total Our and year-over-year costs rent a and they flat percentage although as increased, of were expense decreased occupancy revenues.
in with incurred connection in initiatives. increased year-over-year primarily SG&A strategic increases expenses our from fees professional
revenue a As on constant only SG&A a up percentage were slightly. basis, dollar however, levels of
operating turn to be agency taken efforts. took the second as markets of in in initiatives, although steps international quarter a start, let's start repositioning the we Table self-liquidating. of And Now them million, in additional impact primarily our page the These This To we production this including repositioning these areas of in strategy on some our efficiency charge be which shows increased primarily expect more expect at statement to look and smaller this to QX, of well reflects other well gain Slide XXXX strategic our initiatives of QX, to and detail. QX the our in income as $XX.X related of expenses. as charge recorded XXXX the centralized $XX.X consolidation we as advertising severance networks, in year. continue. we the million in repositioning efficiency of QX last million in impact of net of $XX.X the charge that X
was margin in On XX.X% a and X.X% versus the non-GAAP last second adjusted EBITDA comparable year. EBITDA XX.X% basis, grew of the margin quarter
discussed small the margin quarter, well in acquisition Flywheel decrease related As as the of includes last costs. as relatively the results our integration
EBITDA to $XX.X amortization quarter, reflects platform acquired intangible operating developed income last of to Similar internally and for assets. intangible add-back million strategic assets the
We amortization year. the expect half of second of the levels similar in
We also margin EBITDA full close XX.X%. with margin adjusted of to our be year flat adjusted our EBITDA XXXX XXXX continue to expect to
income $XX.X the expense lower a increased second higher Moving $X.X average expense Flywheel by financing change and to statement. a investment in short-term the quarter from $XX.X million million balances. million of interest million. increase down due the for decrease $X.X outstanding XXXX income interest to due driven debt The to interest in and cash was Net
Our QX income was tax compared rate flat close to of of XXXX. XX% to
basis rate Higher due For XXXX, offset expense the $X.XX. to XX%. interests. increased share to we costs, to from on was investments non-GAAP repositioning share income a per from count, tax And continue reported our second declined equity the X.X% income earnings minority diluted attributed earnings of by despite adjusted expect a to higher but half approximate to reduced
in cash Now Slide we cash typical QX In flow turn working use to our working And year-to-date up is its and QX capital. as followed flow making QX of XX. our last work please provided Free We half improved towards We're capital seasonal changes to define by XXXX, levels as working continue cash of XXXX from neutral historically and declined progress first from of year. excluding XXXX. and QX operating to the expected, free X.X% to compared performance capital. cycle QX. our activities,
million $XXX interest another to used uses noncontrolling for shareholders. cash common cash, of million our Regarding and to of shareholders to we pay dividends dividends $XX
be prior we million, were initiatives. $XX our than Flywheel the to Flywheel $XXX net expect in expenditures were as second no as $XXX which which million last strategic quarter. to of Our we capital and in higher the acquisition increased to year of invest acquisitions calls, discussed continue million, on cash platform payments Total acquired. There reflects somewhat acquisition
proceeds Finally, the million year-to-date in our plans, and stock stock at repurchase net activity, $XX of $XXX million quarter. was
expectation Our historical unchanged. The average as result Flywheel year half approximately of is million. for total of reduced the the repurchases of our a $XXX acquisition,
to to an allocation and sheet. investment-grade balance share repurchases capital competitive with continue our dividend, approach maintain strategic balanced We a acquisitions,
$X.X the was QX book and billion, the XX over debt the of maturities. XXXX. of a credit, $XXX portion second At outstanding from XXXX, quarter million up our the acquisition Slide of is of our debt Flywheel during of value funding summary end a liquidity of
and down equivalents were XX $X.X from at last investments slightly Cash June short-term billion, year.
an billion backstops have credit facility, also undrawn which our $X.X revolving billion commercial program. We paper U.S. $X
refinancing, markets that rates due are are We our November monitor and X, $XXX given activity $X continue by and with the the in to million our interest to where this net At senior estimate our approximately early million million QX. regard point, $XX financing QX X.XX% is anticipated interest in of notes XXXX. XXXX that in to credit will expense compared last increase year and current
X XXXX. our return months sheet. balance the reflect and both metrics our XX%, on return capital on important presents Omnicom's for XX XX, invested on and Slide of June XX% XX ended equity was performance was which historical returns consistently performance strong solid
for open answers. lines I will now ask questions please to the the up operator and
