WPP (WPP) Stock

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NEW YORK & LONDON--(BUSINESS WIRE)--WPP (NYSE: WPP) today reported its 2024 Third Quarter Trading Update. Third quarter   £m   +/(-) % reported1   +/(-) % LFL2 Revenue   3,558   1.4   4.1 Revenue less pass-through costs   2,765   (2.6)   0.5               Year to date             Revenue   10,784   0.5   3.1 Revenue less pass-through costs   8,364   (3.3)   (0.5) Q3 highlights Q3 reported revenue +1.4%, LFL revenue +4.1% Q3 LFL revenue less pass-through costs +0.5%, with North America +1.7%, We.

WPP reported a surprise rise in organic revenue for the third quarter, returning to growth after declines in previous quarters, as it benefited from higher spending among its bigger clients and a stabilization in the technology sector.

Advertising conglomerate WPP PLC (LSE:WPP) returned to growth in the past quarter with better revenues than expected, thanks to new wins with the likes of Amazon, Starbucks and Unilever. The FTSE 100-listed marketing group, which owns agencies including GroupM, Ogilvy, Mindshare and Finsbury, reported revenue less pass-through costs of £2.9 billion for the third quarter, up 0.5% on a like-for-like basis.

British ad group WPP reported a better-than-expected 0.5% rise in like-for-like organic revenue in the third quarter, with growth in North America, western continental Europe and India partly offset by continued tough trading in China.

WPP plc (NYSE:WPP ) Q3 2024 Earnings Conference Call October 10, 2024 4:30 AM ET Company Participants Mark Read – CEO Joanne Wilson – CFO Conference Call Participants Laura Metayer - Morgan Stanley Nicolas Langlet - BNP Paribas Adrien de Saint Hilaire - Bank of America Thomas Singlehurst - Citi Joseph Thomas – HSBC Steve Liechti - Deutsche Numis Simon Baker - Bernstein Operator Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the WPP 2024 Third Quarter Trading Update Conference Call and Webcast.

Shore Capital Markets has reiterated its buy rating on WPP PLC (LSE:WPP) ahead of the advertising giant's upcoming third-quarter trading update on 23 October. Analysts suggested that investors will be looking for reassurance following WPP's interim results, which saw the company reduce its full-year revenue guidance from flat to slightly less than flat.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

WPP plc stock is undervalued compared to peers, despite challenges leading to downgraded growth from high APAC exposure. The company's cost savings plan is coming in nicely apparently and could continue lifting figures a little bit to fight topline pressures which may be a bit protracted. The partial sale of FGS Global to KKR puts a high value on the PR business, which puts a low value on its residual advertising businesses compared to peers.