WPP plc Q1 2026 Trading Update
WPP plc reported its Q1 2026 trading update, with revenue of Β£3,030m, down 6.6% YoY on a reported basis and 4.0% like-for-like (LFL). Revenue less pass-through costs was Β£2,260m, down 6.7% LFL. This performance is in line with expectations, and the company reiterates its FY 2026 guidance. The company expects LFL revenue less pass-through costs to decline in the mid to high-single digits in the first half of 2026, with an improving trajectory in the second half. The headline operating profit margin is expected to be between 12% and 13%. WPP highlighted new business momentum, client retentions, and strategic partnerships with Google Cloud and Adobe, including advancements in AI integration. The company also announced the launch of its Commerce Practice and appointments of new executives. Financial outlook for 2026 remains consistent, with adjusted operating cash flow before working capital anticipated to be Β£800m to Β£900m.