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WPP raises outlook again after strong Q3 demand
Published by maria gbaf
Posted on October 28, 2021
1 min readLast updated: January 29, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on October 28, 2021
1 min readLast updated: January 29, 2026
WPP increases its full-year sales outlook after a strong Q3 performance, driven by demand in key markets like the US, UK, and Germany.
LONDON (Reuters) – WPP, the world’s biggest advertising company, lifted its full-year underlying net sales guidance again on Thursday after third-quarter trading easily beat forecasts on demand from the United States, Britain and Germany.
WPP said its core metric, known as like-for-like revenue less pass-through costs, jumped 15.7% in the third quarter, well ahead of forecasts of 9.5% and almost 7% up on its performance in the same quarter of 2019, before the pandemic.
The British group raised its full-year outlook for growth to a range of 11.5% to 12%, from 9-10%.
WPP said in August it had returned to 2019 business levels a year ahead of plan as clients rushed to benefit from a global economic recovery from the pandemic.
“Our very strong performance goes well beyond a cyclical recovery, with like-for-like growth over 2019 at 6.9% in the quarter,” Chief Executive Mark Read said.
“Clients across all sectors and geographies are making significant investments in marketing, particularly in digital media and ecommerce services.”
(Reporting by Kate Holton; editing by Alistair Smout and Jason Neely)
The article discusses WPP's raised sales outlook following a strong Q3 performance driven by demand in key markets.
WPP raised its outlook due to a 15.7% increase in Q3 revenue, surpassing forecasts and driven by demand in the US, UK, and Germany.
Growth is attributed to significant investments in digital media and ecommerce services across various sectors.
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