WPP Reports Q1 Revenue Of £3.4B, Down 1.4% YoY And Up 2.1% Like-For-Like, Revenue Less Pass-through Costs Were £2.7B, Down 5.0% YoY And Down 1.6% Like-For-Like
Portfolio Pulse from Benzinga Newsdesk
WPP reported a Q1 revenue of £3.4 billion, a decrease of 1.4% year-over-year but an increase of 2.1% on a like-for-like basis. Revenue less pass-through costs was £2.7 billion, down 5.0% YoY and 1.6% like-for-like. Additionally, WPP is collaborating with Georgia Power on a pilot program for EV owners in Georgia.
April 25, 2024 | 11:59 am
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WPP's Q1 earnings report shows a slight decline in revenue year-over-year but an increase on a like-for-like basis. The company is also engaging in a new partnership with Georgia Power for an EV pilot program.
The mixed financial results indicate a stable but challenging market environment for WPP, with slight declines and increases in different metrics. The partnership with Georgia Power for an EV pilot program could signal new business avenues and innovation, potentially offsetting negative impacts from the earnings report. However, the overall impact on the stock price is likely neutral in the short term, as investors digest both the earnings results and the potential of new partnerships.
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IMPORTANCE 75
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