By Denny Jacob
American depositary receipts for WPP tumbled 18% in premarket trading after cutting its full year financial guidance.
ADRs were trading at around $29.26. The stock is down 30% on the year.
The U.K. advertising and marketing-services group said Wednesday that it expects like-for-like revenue less pass-through costs this year to fall by between 3% and 5%, from a previous estimate of between a flat performance and a 2% decline.
The new guidance comes as it said like-for-like revenue less pass-through costs in the first half is expected to fall by between 4.2% and 4.5% to around 5 billion pounds ($6.8 billion), with a decline of 5.5% to 6.0% in the second quarter.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
July 09, 2025 06:21 ET (10:21 GMT)
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