WPP Reports Narrower Revenue Decline in Third Quarter, Reaffirms 2026 Guidance
The British advertising group reported a smaller fall in like-for-like revenue after pass-through costs, while keeping its annual margin outlook unchanged.
British advertising group WPP reported a smaller underlying revenue decline in the third quarter of 2026, saying its restructuring programme was progressing even as client spending remained uneven.
Revenue for the quarter was £3.274 billion, an increase of 0.5% on both a reported and like-for-like basis. Revenue less pass-through costs, a measure that excludes amounts passed directly to suppliers, was £2.411 billion. That measure fell 2.1% like-for-like compared with the same period a year earlier, an improvement on the 2.8% decline in the second quarter.
For the first nine months, WPP reported £9.647 billion in revenue and £7.156 billion in revenue less pass-through costs. The company maintained its expectation that the latter measure will decline by a low- to mid-single-digit percentage in the second half of 2026. It also kept its forecast for a full-year headline operating margin of 12% to 13%.
Chief executive Cindy Rose said WPP was working to stabilise performance and simplify its operating structure under the Elevate28 programme. The group pointed to renewed client relationships and investments in data and production capabilities. Those steps have not yet translated into sustained group-wide underlying revenue growth. The outlook remains a company forecast, not a completed financial result.
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