WPP and IPG glum as Q1 numbers come in

The ad market was cast in a dismal light on both sides of the Atlantic with WPP and Interpublic Group (IPG) releasing uninspiring Q1 updates at the end of last week. UK-based holdco WPP reported like-for-like revenue less pass-through costs down 2.7%, while US headquartered IPG reported organic revenue down 3.6% (both YOY comparisons for the period).

Neither group offered “green shoots” language for the rest of the year, instead focusing on global economic uncertainty and internal initiatives to rebuild momentum.

WPP’s presentation noted that “tariff-related uncertainty amplifies an already uncertain environment” and CEO Mark Read said “While WPP is not itself directly affected by tariffs, they will impact a number of our clients as well as the broader economy. At this point we have not seen any significant change in client spending and we reiterate our full-year guidance which already reflected a challenging environment.”

Mark Read