WPP Lowered FY23 LFL Revenue Less Pass-Through Costs Growth Outlook To 0.5%-1.0% (From 1.5%-3.0% Prior); Expects Headline Operating Margin (Ex-FX) Of 14.8%-15.0% Vs. Around 15.0% Earlier
Portfolio Pulse from Benzinga Newsdesk
WPP has lowered its FY23 like-for-like (LFL) revenue less pass-through costs growth outlook to 0.5%-1.0%, down from the previous 1.5%-3.0%. The company also expects its headline operating margin (excluding foreign exchange effects) to be between 14.8% and 15.0%, compared to the earlier estimate of around 15.0%.
October 26, 2023 | 9:05 am
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WPP has revised its FY23 outlook downwards, which could potentially impact investor sentiment and the company's stock price in the short term.
WPP's downward revision of its FY23 outlook indicates potential challenges in the company's performance. This could lead to negative investor sentiment, potentially driving the stock price down in the short term.
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