WPP Shares Drop After Outlook Upgrade Fails to Live up to Peers

WPP Shares Drop After Outlook Upgrade Fails to Live up to Peers

August 5, 2022 at 2:03 PM GMT+8Updated onAugust 5, 2022 at 3:56 PM GMT+8

WPP Plc shares fell after the advertising group raised its sales outlook less than some investors were anticipating following upgrades at its rivals.

While the company raised its outlook for the year and beat analysts’ estimates for organic growth, the “magnitude” of the beat and unchanged margin guidance “could be seen by the market as a slight disappointment,” analysts at Goldman Sachs Group Inc. said in a note on Friday.

ubrfmnet