WPP (WPP-LN): Q1 – positive spin and NNB, but organic revs of +4% only in line -HOLD

Q1 organic revenue growth of 4.0% was shy of our +4.4% forecast, albeit broadly in line with Q4’s +4.5% and WPP’s full year expectations of +4%. By region, the most noticeable change was from N. America where u/l growth of only +1.4% lagged its peers (>+3.5%) and our estimate of +4.4%. W. Europe however at +2.5% was better than […]
Continue reading