WPP's 50-share winning streak ends as advertising giant WPP warns that revenue in its third quarter dropped 8.4% compared to the same period last year, and cut its forecast sales for the year, now expecting a decline of 5.5% to 6%. New boss Cindy Rose has called performance "unacceptable" and said the company is taking action to address this.
The FTSE 100 business lost its top spot as the world's biggest advertising agency by revenue to its French rival Publicis last year. However, WPP shares are down 8.6% after it cut its guidance for sales growth this year. The ad group also warned that jobs at WPP could be at risk under new boss Rose's strategic review.
WPP is still the standout on the FTSE 100, with shares now down by about 14.5%. There are fears that jobs at WPP could be at risk under new boss Cindy Rose's strategic review to address "unacceptable" performance at the advertising company.
European stocks are opening broadly lower this morning: London's blue chip FTSE 100 index has fallen by 0.4%. The ad group WPP is the worst performer across the index, with its shares down 8.6%, after it cut its guidance for sales growth this year.
In other news, Chinese electric car manufacturer BYD reported its third quarter earnings, with an adjusted net loss of $1 billion due to increased costs and reduced revenue. The company has struggled to compete with established players in the EV market.
Oil prices have fallen slightly as investors digest the new trade deal between US President Donald Trump and Chinese President Xi Jinping. Brent crude futures dropped by 0.31% to $64.72 a barrel this morning, while US West Texas Intermediate crude futures dropped by 0.33% to $60.28.
The FTSE 100 business lost its top spot as the world's biggest advertising agency by revenue to its French rival Publicis last year. However, WPP shares are down 8.6% after it cut its guidance for sales growth this year. The ad group also warned that jobs at WPP could be at risk under new boss Rose's strategic review.
WPP is still the standout on the FTSE 100, with shares now down by about 14.5%. There are fears that jobs at WPP could be at risk under new boss Cindy Rose's strategic review to address "unacceptable" performance at the advertising company.
European stocks are opening broadly lower this morning: London's blue chip FTSE 100 index has fallen by 0.4%. The ad group WPP is the worst performer across the index, with its shares down 8.6%, after it cut its guidance for sales growth this year.
In other news, Chinese electric car manufacturer BYD reported its third quarter earnings, with an adjusted net loss of $1 billion due to increased costs and reduced revenue. The company has struggled to compete with established players in the EV market.
Oil prices have fallen slightly as investors digest the new trade deal between US President Donald Trump and Chinese President Xi Jinping. Brent crude futures dropped by 0.31% to $64.72 a barrel this morning, while US West Texas Intermediate crude futures dropped by 0.33% to $60.28.
. advertising giant just lost its top spot, but still it's a huge player in the market. but at what cost? cuttin' jobs, reducin' revenue... is that really progress? or are we just tryin' to survive in a world where everything's changin'? 
. chinese electric car manufacturer can't compete with established players? what does that say about our obsession with innovation and growth? do we value it over people? it's like, we're chasin' these fancy new technologies without thinkin' about the human impact.
and I'm not buying the "strategic review" excuse 
. It's been slipping in the ad game for years and this is just another attempt to cover up their decline 
. With Cindy Rose at the helm, they're just trying to save face 
. The fact that jobs are on the line is a major red flag 
. I mean, who wants to work for an agency that's barely holding on? It's time for them to step up their game or face the consequences 
WPP's struggles are quite concerning 
The advertising industry is already changing so fast 
. I think new boss Cindy Rose is trying to turn things around 
, but it's tough 
. Can't wait to see what changes she brings 
! 
thinkin they can just cut costs & hope 4 the best is gonna cut it 
wpp needs 2 rethink their strategy, prob not just about reducin costs but also innovatin & adaptin 2 new tech 
. 8.4% dip in revenue in Q3? that's not good at all 
, maybe even restructure some departments or something. new boss Cindy Rose seems like she's on it too 
, calling performance "unacceptable" and all 
. fingers crossed they can turn things around soon 
.
She's taking action to fix it, but still... it's scary for the future of WPP 
and now they're gonna lose some jobs? 
not cool Cindy, not cool. also BYD's struggling with electric cars 
hope they can turn it around soon. oil prices are down though 
maybe that's a good sign for the economy? 
... I guess new boss Cindy Rose is trying to shake things up with a strategic review 
... maybe we'll see some layoffs at WPP soon 
... and btw, BYD's earnings are pretty concerning too 
byd's earnings are crazy though, $1 billion loss? that's a lot of debt 
. hope wpp can get back on track soon 
WPP's struggles show that even the biggest players in an industry can struggle when things aren't going their way. Maybe they just needed a fresh face (Cindy Rose) to shake things up, but 8.4% drop in revenue? That's just a recipe for disaster 
The ad industry is already changing so fast with all these new tech startups popping up... it's like WPP was caught off guard 
.
. Publicis' rise to the top spot is no surprise – they've been making waves with innovative campaigns and a more agile approach to client needs 
. It'll be interesting to see how WPP responds to this new reality... maybe it's time for them to take a step back, regroup, and come back stronger 
It's just so... unpredictable. I remember when Martin Sorrell was at the helm, WPP was like the golden child of advertising agencies. Now it's like they're trying to play catch-up with everyone else. 
. I mean, who needs ad revenue when you can have a bunch of soul-sucking meetings and mediocre creative brainstorming sessions? 
Cindy Rose better bring her A-game (or should I say, C-game?) if she wants to turn WPP around... good luck with that 
.
.
it's not lookin good for ad agency life, tbh 