MediaPost spotlighted additional details on WPP Q1 earnings, revealing WPP Media delivered the worst decline for the single White operating company.
This is extra bad news given pseudo thought leaders and analysts speculate WPP CEO Cindy Rose is restructuring the flaming dumpster to become a media-first enterprise.
Based on the earnings report, WPP is now a media-worst enterprise.
WPP Media Delivers Worst Q1 Decline, ‘Enterprise Solutions’ Seen Most Promising
By Joe Mandese
Media was the biggest drag on revenue during WPP’s first quarter, the “unholding” company disclosed in its earnings release this morning.
WPP Media, which accounts for the greatest share of company revenue (41%, see chart below), saw its revenue decline 8.5% in the first quarter -- nearly two points greater than WPP’s overall decline and markedly greater than its other reported divisions, including creative services, public relations and specialist agencies.
While WPP did not disclose the explicit performance of a newer category of services – “enterprise solutions,” which now accounts for 13% of total revenue -- it was cited as a potential area of higher revenue growth.
The earnings report called out a recent enterprise solutions deal with Adobe as an example, but did not explicitly disclose the nature of the services or the revenue model.
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