WPP Stock Recent News

Falling tech spending in the USA prompted the FTSE 100 firm to cut its like-for-like sales estimates for 2023.

WPP PLC (LSE:WPP) has lowered its full-year growth forecast due to reduced spending by US firms as it reported profit halved in the first half of 2023. The advertising giant now expects full-year like-for-like growth of 1.5-3.0%, down from previous guidance of 3-5%, although headline operating profit margin of around 15.0% is higher than the 11.5% reported in the first half.

Finishing off the week, ahead of the financial traders' must-watch NFP jobs report, there will be numbers from advertising group WPP PLC (LSE:WPP). These arrive hot on the heels of a warning from broadcaster ITV of the worst advertising recession since the financial crisis.

Mark Read, WPP CEO, joins 'Closing Bell Overtime' to discuss the strength of the ad market, the development of influencer marketing, and how A.I. could be used to boost creativity and expand ad innovation.

WPP PLC (LSE:WPP) and Nvidia Corp have agreed to develop a platform that will create automated digital adverts using artificial intelligence. The world's largest advertising company said that integrating 3D tools with generative AI would allow its creative teams to produce commercial content, such as images and videos, more quickly.

Shares of ad agency WPP WPP, +2.98% rose 3% in early London trade after saying it's making a content engine in partnership with AI chipmaker Nvidia NVDA, +2.54%. The companies said the engine will allow WPP to make large volumes of brand advertising content such as images or videos and experiences like 3D product configurators more tailored and immersive.

U.K. advertising-holding company WPP is teaming up with U.S. chip giant Nvidia to develop a content engine that uses generative artificial intelligence for digital advertising, the companies said Monday.

The heavy selling pressure might have exhausted for WPP PLC (WPP) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

WPP PLC (WPP) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

In the past year, WPP (-4.72%) has experienced poorer price performance than both the general market (SPY: +4.91%) and the communications index (XLC: +3.56%). This reflects a decline in advertising spending as a result of rising interest rates and sustained inflationary pressures, leading to a 75.07% YoY decline in FCF from 2021-22.