WPP Up 5% - Q3 Revenues Jump 23.4% Vs Yr Ago; Guides For Over 3% Net Sales Growth in FY16
WPP plc ( WPPGY ) American depositary shares were up 5% Monday after the British marketing firm reported Q3 revenues of GBP3.61 billion ($4.41 billion), up 23.4% year-over-year and matching a single estimate provided by Capital IQ.
Looking ahead, WPP expects FY16 like-for-like revenue and net sales to grow more than 3% with the gap between revenues and net sales expected to narrow further. WPP also expects its FY16 operating margin to increase by 0.3 percentage points on a constant-currency basis.
The company also said it expects revenues and net sales to grow more than 3% in FY17.
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