Overview

• WPP cut full-year like-for-like revenue guidance to a 3%–5% decline and forecast a 50–175 basis-point drop in headline operating profit margin.
• Its U.S.-listed shares plunged about 30%, hitting their lowest level since March 2020.
• The company attributed the downgrade to a challenging economic backdrop, reduced client spending and weaker net new business.
• Key account losses, including Pfizer and Coca-Cola’s North America media buying, have weighed on performance.
• Management plans to boost AI and technology spending to £300 million annually as it prepares for Mark Read’s succession.