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WPP has adopted a gloomier profit and sales forecast due to a deteriorating Q2 financial performance triggered by weak client spending as companies cope with the challenging economic backdrop.
CEO Mark Read, who has announced plans to leave WPP after a 30-year career, projects a 5.5 percent to 6 percent plunge in Q2 like-for-like revenues less pass-through costs.
He had anticipated Q2 performance similar to Q1, but June results were worse than expected. WPP expects that same lackluster activity to continue during the second half of the year.
First half revenues are projected to fall between 4.2 percent and 4.5 percent to about $7B.
Read said his “focus remains on ensuring the right balance between investing in the business for the long-term and continuing to reduce structural costs, while taking appropriate actions to respond to the current trading environment.”
WPP will release first half financials on August 7.
Stagwell’s Q4 revenues grew two percent to $807M while adjusted EBITDA rose three percent to $129M.
WPP CEO Cindy Rose unveiled “Elevate 28,” a strategic plan to simplify the troubled company, which reported a 5.4 percent drop in 2025 revenues to $13.6B.
Omnicom CEO John Wren reported a Q4 $977.2M operating loss, largely due to the $1.1B in severance and repositioning expenses connected to the $13B Interpublic takeover that closed on Nov. 26.
Publicis Groupe reports an 8.8 percent rise in 2025 net revenues to $16.4B with
Public Policy Holding Company today priced its initial public offering at $12.25 per share. The sale of 4,150,000 shares raised $50.8M in gross proceeds.
