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WPP (LSE: WPP) was having a shocker in the FTSE 100 today (27 February). Earlier, it was down 19% and heading for its worst day since the early 1990s!
As I write though, it’s clawed back some gains and is ‘only’ down 16%. Still, at 646p, it’s WPP’s lowest level in over four years.
The stock has been a disappointment for a long time. It’s down 9% in 12 months, 14% over five years, and more than 50% across a decade. Meanwhile, dividends have been up and down over the years.
Mixed results
The culprit for today’s big drop was the advertising company’s underwhelming Q4 results and uninspiring guidance for 2025.
In the final quarter of 2024, underlying revenue fell 2.3% on a like-for-like basis, with growth impacted by weak client ad spend. Growth in western continental Europe (+1.4%) was offset by weakness in all other markets:
- North America:…
