WPP (WPP) Company Overview

WPP PLC (LSE:WPP) is looking to sell its share in the research company Kantar, and this effort has gained momentum after the $1 billion sale of Kantar's market research division. The part of Kantar that focuses on TV ratings, known as Kantar Media, is being sold to the investment firm HIG Capital.

WPP PLC (LSE:WPP) has seen a recent increase in its stock price, but UBS remains negative and has maintained a 'sell' rating due to concerns about its future. While UBS raised the target price for WPP shares from 680p to 720p, they believe that the recent rise in share price since summer may not continue.

WPP PLC (LSE:WPP) saw its shares increase after it was announced that the French market research company Ipsos is discussing a possible purchase of Kantar Media. WPP holds a 40% share in Kantar.

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WPP has released its Third Quarter Trading Update for 2024, showing a reported revenue of £3,558 million, which is a 1.4% increase. The revenue, excluding pass-through costs, was £2,765 million, reflecting a decrease of 2.6%. Year-to-date, the total revenue stands at £10,784 million, with a slight increase of 0.5%.

WPP unexpectedly saw an increase in organic revenue for the third quarter, bouncing back after previous declines. This growth was supported by increased spending from its larger clients and a recovery in the technology sector.

WPP PLC, a large advertising company, saw growth in the last quarter with higher-than-expected revenues, driven by new contracts with companies like Amazon, Starbucks, and Unilever. The marketing group, which includes agencies such as GroupM, Ogilvy, Mindshare, and Finsbury, reported a revenue of £2.9 billion for the third quarter, which is a 0.5% increase when adjusted for similar conditions.

The British advertising company WPP announced a surprising 0.5% increase in its like-for-like organic revenue for the third quarter. This growth was driven by strong performance in North America, western continental Europe, and India, although it was somewhat balanced out by ongoing challenges in China.

WPP plc (NYSE:WPP) will hold its Q3 2024 Earnings Conference Call on October 10, 2024, at 4:30 AM ET. The call will feature company leaders Mark Read, the CEO, and Joanne Wilson, the CFO, along with participants from various financial institutions. The operator will welcome everyone and introduce the WPP 2024 Third Quarter Trading Update Conference Call and Webcast.