Q3 A Strong One For WPP
WPP this morning reported organic revenue growth for the third quarter of 5%, best of the major holding companies reporting so far.
By comparison, Omnicom earlier said its Q3 organic growth was 4.1% while Publicis and Interpublic reported 3.5% and 2.8% growth respectively.
Pivotal analyst Brian Wieser wrote that WPP’s Q3 performance was “the company’s best quarterly results in more than two years.”
And those results were dragged down a bit by the data and investment division, Wieser said, noting that the holding company would have achieved 5.4% organic growth but for investments to that unit. Geographically, WPP achieved growth in all regions, including struggling Europe where it posted 2.6% organic growth. North America was up 4.6%, the UK was up 8% and all other markets were up 5.8%.