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WPP (LSE:WPP) was already having a bad year before today (9 July). But it just got a hell of a lot worse for this FTSE 100 dividend stock. As I type, it’s down 18% to 432p!
This latest drop means WPP has fallen 48% year to date, and is now at a 16-year low. Ouch.
What on earth’s going on here?
Grim reading
Advertising group WPP is often still described as a ‘giant’. But its market cap is now just £4.7bn, which hardly seems goliath-like in the current age of $1trn+ digital advertising platforms.
Today’s sharp drop was caused by the company’s grim first-half trading update. It said “we have seen a deterioration in performance as Q2 has progressed“. This was worse than expected and will result in lower full-year revenue, earnings and margins.
With weak client spending and fewer new contract wins, WPP now expects 2025 revenue to decline 3%-5%. It had…
