Hasta La Creative!

WPP stock dropped steeply Thursday after the world’s largest advertising holding company posted worse-than-expected results for the third quarter, citing weakness in its creative agencies and in its North American business. The holding company has also suffered a recent string of client business losses.

Reported revenue in the quarter was down 0.8 percent to 3.76 billion, with a like-for-like net sales decline of 1.5 percent. Investors reacted badly. WPP shares tumbled on the release of its results to the lowest level since 2012. Shares were down 15 percent in late-day U.K. trading.

WPP results come the week after peers Omnicom, Interpublic and Publicis published third quarters that were generally positive.

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