Apr
30
WPP earnings beat expectations, but details about Sorrell departure still a mystery
Posted in: Uncategorized
In its first financial report since CEO Martin Sorrell left earlier this month, WPP reported better-than-expected results for its first quarter.
The world’s largest holding company’s like-for-like net sales fell 0.1 percent in the quarter, which came in better than the 1 percent drop analysts expected. WPP said its first-quarter group’s reported revenue fell 4 percent from last year to 3.6 billion pounds.
WPP’s leadership including the company’s new co-chief operating officers Mark Read and Andrew Scott addressed investors and analysts in a meeting in London and later in a call with U.S. analysts.
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