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| Mark Read |
WPP reported a 0.5 percent uptick in Q3 like-for-like revenues to $3.6B as gains in North America and Western Europe more than offset a 21.3 percent collapse in the Chinese market.
The British firm suffered a 0.6 percent decline in revenues during the 2023 period.
CEO Mark Read is “encouraged by the progress made in the quarter,” but he reaffirmed his forecast of a one percent drop or flat full-year revenues.
He said WPP faces continuing macroeconomic pressures, and that recent new business wins will primarily impact 2025’s results.
On the PR front, WPP said FGS Global delivered strong growth, while Burson is still struggling to compensate for the 2023 loss of the Pfizer business.
WPP expects to close the deal to divest its remaining 50 percent stake in FGS Global to KKR during Q4. That transaction will result in a $782M after-tax gain, which will be earmarked to reduce debt.
Burson recorded new assignments from Google, GSK and Honor during the period. It also picked up PR duties for ViiV Health, developer of medicines for HIV.
WPP claims Burson—following the takeover of Hill & Knowlton—is now a Top Two global PR firm. It has 6,500 employees, and 95 offices in 43 markets.
WPP chief Cindy Rose is cutting up to 1,000 jobs by the end of the year, adding to the 11K jobs lost since the start of 2025, according to a report in the Financial Times.
WPP CEO Cindy Rose declares her stabilization plan is "firmly on track" as the company reports a 4.7 percent dip in 1H revenues.
FTI Consulting reported a 2.6 percent drop in Q2 strategic communications revenues to $100M, a shortfall largely due to a $7.4M decline in pass-through revenues.
Omnicom CEO John Wren reported a 7.2 percent rise in Q2 “core operations” to $6B and a 6.1 percent spurt on an organic basis.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
