Highlights

  • Q3 2025 revenue of WPP stood at GBP 3.26 billion, down 8.4% year-on-year on a reported basis and 3.5% lower like-for-like (LFL).
  • Full-year guidance revised to -5.5% to -6.0% for LFL growth in revenue less pass-through costs, with an expected headline operating profit margin around 13%.
  • Strategic review underway focusing on simplifying operations, improving execution, expanding market reach, and improving financial performance.

WPP plc (LON:WPP) has reported a decline in third-quarter revenue for 2025 and adjusted its full-year outlook to the lower end of previous guidance. The company also confirmed the initiation of a strategic review aimed at returning to growth and enhancing execution capabilities under new leadership.

Third Quarter Performance

For the quarter ended September 2025, WPP’s revenue less pass-through costs was GBP 2.46 billion, down 11.1% reported and 5.9% LFL. The results reflect lower performance in WPP Media, which saw a decline compared to the second quarter, and a weaker showing across several regions and business lines.

Year-to-date, WPP’s reported revenue was GBP 9.92 billion, a decline of 8.0%, with like-for-like revenue down 2.8%. Revenue less pass-through costs for the same period fell 10.5% reported and 4.8% LFL.

Regional and Segment Breakdown

The Global Integrated Agencies segment recorded a 6.2% LFL decline in revenue less pass-through costs, with WPP Media down 5.7% and other integrated agencies down 6.5%. The Public Relations business saw a 5.9% decline, while Specialist Agencies contracted 2.2%.

By geography, North America was down 6.0%, the UK fell 8.9%, and Western Continental Europe declined 4.4%. The Rest of the World region decreased 5.0%, although India grew 6.7%, partially offsetting a 10.6% decline in China.

Client and Sector Trends

WPP’s top 25 clients saw revenue fall 2.0% year-to-date, performing better than the overall group average decline of 4.8%. The results reflected continued pressure across consumer packaged goods, automotive, and government sectors, alongside weaker demand in technology and digital services. Conversely, healthcare returned to growth during the quarter.

Leadership Changes and Strategic Initiatives

Newly appointed CEO Cindy Rose, who assumed the role on 1 September 2025, announced several leadership changes, including Devika Bulchandani as Chief Operating Officer and Laurent Ezekiel as Global CEO of Ogilvy Group.

In October, WPP also extended its partnership with Google for five years to advance cloud and AI technology integration. The company launched WPP Open Pro, an enhanced version of its AI-driven marketing platform, aimed at streamlining campaign creation and activation for clients.

Strategic Review and Outlook

WPP confirmed that its strategic review is in progress, focusing on four pillars:

  1. Simplifying and integrating client offerings while leveraging AI for growth.
  2. Enhancing execution and fostering a performance-driven culture.
  3. Expanding market reach through enterprise and technology solutions.
  4. Improving financial efficiency and capital discipline.

The company now expects 2025 LFL revenue less pass-through costs to decline between 5.5% and 6.0%, with a headline operating profit margin of around 13%. The forecast for adjusted operating cash flow before working capital remains unchanged at GBP 1.1–GBP 1.2 billion.

WPP share price dropped by almost 10% to GX 321.90 at the time of writing on 30 October 2025.