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WPP's second revenue warning in three months. It is mainly the tech companies in the U.S. that are reaching out and depressing the advertising giant's results.

Thirteen percent less revenue from clients in the Tech & Digital domain and percent less from Retail. The British WPP published its third quarter figures this morning and they did not please investors.

The share price was down just under three percent in London at the end of the morning.

The company does not give reasons for the declines. However, they are obvious: rising costs among citizens and businesses and an unstable geopolitical outlook.

Group sales fell 1.8 percent to 3.5 billion pounds. CEO Mark Read did not report loss or profit figures during the period.

WPP plans to present its strategic roadmap in January 2024 with plans for the next three to five years.

Photo: RG TLV (cc)

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