logo
Plus   Neg
Share
Email

WPP Q1 Revenue Down 4.9%

WPP plc (WPP.L,WPPGY) reported that its revenue from continuing operations for the first quarter of 2020 was 2.8 billion pounds, down 4.9% from last year on a reported basis and down 4.6% on a constant currency basis.

On a like-for-like basis, revenue was down 3.8% compared with last year.

Revenue less pass-through costs was 2.4 billion pounds, down 4.3% on a reported basis, or 4.0% in constant currency and or 3.3% LFL.

The company expects the impact of COVID-19 on its business to increase in the short term, but it is not possible to quantify the depth or duration of the impact.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Elon Musk, the founder and CEO of Space Exploration Technologies, or SpaceX, said the aerospace company is planning to list its space internet venture, Starlink, after many years when revenue growth is smooth and predictable. In a tweet, Musk said, "We will probably IPO Starlink, but only several years in the future when revenue growth is smooth & predictable. Public market does *not* like erratic It's again that day of the year when coffee lovers celebrate their passion for the caffeinated beverage. It is National Coffee Day today in the U.S. when major food and beverage outlets nationwide promote the coffee culture with deals for coffee fans. In the U.S., major coffee outlets such as Starbucks, Dunkin' Donuts, Wawa, Krispy Kreme, Wendy's and Panera Bread give away free cups of coffee. The state of Ohio ordered General Motors to repay $28 million in tax credits after closing the Lordstown plant, which was in agreement to be operated until 2040. The Ohio Tax Credit Authority said the closure violated the terms of two economic development agreements signed by the company. In separate development, GM announced it is investing $71 million in two other Ohio manufacturing facilities.
Follow RTT