WPP Q3 Trading Update: Revenue Down 1.8%, Up 2.3% On Like-For-Like (LFL) Basis; LFL Revenue Less Pass-Through Costs Fell 0.6%
Portfolio Pulse from Benzinga Newsdesk
WPP's Q3 trading update shows a 1.8% decrease in revenue, but a 2.3% increase on a like-for-like basis. However, like-for-like revenue less pass-through costs fell by 0.6%. Growth was seen in the UK, Western Continental Europe, and the rest of the world, but was offset by declines in North America and China, with continued weakness from technology clients.
October 26, 2023 | 9:01 am
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WPP's Q3 results show mixed performance with overall revenue down but like-for-like revenue up. Declines in North America and China could be concerning for investors.
The mixed results in WPP's Q3 trading update could lead to uncertainty among investors. While like-for-like revenue has increased, the overall revenue has decreased and there are declines in key markets such as North America and China. This could potentially impact the stock price in the short term.
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