WPP Group, like many of its peers, achieved modest revenue growth in the first quarter of the year, though the percentage was near the top of the class.
In U.S. dollars, revenue grew 4 percent to $3.91 billion compared to the same period last year, WPP reported today. In comparison, Interpublic Group’s Q1 revenue grew 2 percent, while Omnicom’s climbed 3 percent.
WPP, whose global agencies include Ogilvy & Mather, JWT, Young & Rubicam and Mindshare, did not report net income, but said first-quarter profits exceeded budget projections.
On an organic basis, WPP’s revenue grew more than 2 percent—again, in range of competitors.
Collectively, the Q1 financial results of WPP, Omnicom, Interpublic and Publicis Groupe present a picture of an industry incrementally rebounding from a stubborn recession. No giant leaps, but rather low single-digit percentage growth. And that trend is expected to continue as the year unfolds.
     |