WPP Is 'On Track' With Turnaround Plan, as Revenue Drops 5.6% in First Half of 2026
The company said it is on track with its turnaround plan and expects $134.5 million in savings this year.
- WPP shares surged 29% on Thursday after Britain's biggest advertising group reported better-than-expected first-half results, reinforcing investor confidence in Chief Executive Cindy Rose's turnaround strategy.
- Rose, nearly one year into her tenure, launched Elevate28 earlier this year to stabilize operations and return WPP to growth after losing its position as the world's largest ad group to Publicis in 2024.
- Revenue less pass-through costs for Q2 reached $3.34 billion while headcount declined 8.4% year-over-year to 97,000, supporting the company's goal of $676 million in annual cost savings by 2028.
- WPP secured 'landmark wins' with Estee Lauder, Jaguar Land Rover, Airbnb, and Wendy, which Rose cited as evidence the turnaround plan's building blocks are 'firmly in place.'
- Rose stated she is 'unequivocally' confident artificial intelligence represents a growth opportunity, positioning WPP to return to sustained expansion by 2027 through enhanced client data connectivity.
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17 Articles
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The British advertising group WPP closed the first semester with a 6% drop in net revenue in Brazil. The result, which disregards the effects of foreign exchange and of acquisitions and sales of business, was mainly influenced by the reduction in the scope of technology services contracted by a large customer of the company, according to Valor. Exclusive material for subscribers. To have full access, access the link of the subject and register.
WPP shares soar as advertising group shows signs of recovery
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