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WPP

WPP ADRs Slump 8% Pre-Bell as H1 Sales Drop Vs Yr-Ago, EPS Beats Views

ADRs of WPP ( WPP ) were lower pre-market Tuesday after the advertising and public relations major posted a drop in H1 revenue as sales in its largest market, North America, edged lower.

The company reported diluted EPS of GBP0.53 ($0.69) for H1, up from GBP0.47 for the same period last year, even as revenues fell year-over-year to GBP7.49 billion from GBP7.65 billion. Three analysts polled by Capital IQ were expecting EPS of GBP0.38 and sales of GBP7.2 billion.

For 2018, the company expects like-for-like revenue and revenue less pass-through costs growth similar to H1 and full year headline EBIT margin similar to the H1 decline of 0.4 margin points on a like-for-like basis.

The company will be paying a cash dividend of GBP0.23 pence per common share on Nov. 5 to shareholders of record at the close of business on Oct. 5.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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