LONDON (dpa-AFX) - WPP Plc (WPP.L, WPPGY), a British media company, on Friday recorded a decline in revenue for the first quarter in line with expectations.
For the first quarter, the company posted revenue of 3.243 billion pounds, down 5 percent from last year. However, on a like-for-like basis, WPP posted a 0.7 percent decline in revenue.
Mark Read, CEO of WPP, said: 'Our financial performance in Q1 was in line with our expectations, reflecting macroeconomic challenges and the timing of new business, and we expect these factors to continue in Q2 with performance anticipated to improve in the second half. 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.'
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