WPP Sinks to Lowest Since 2009 on Bleak Outlook for Ad Spending

WPP Plc cut its outlook for 2025 after clients spent less than expected, adding to the advertising agency’s woes as it searches for a new chief executive officer. Shares fell to their lowest level in almost 16 years.

The London-based company expects annual revenue excluding pass-through costs to decline by 3% to 5%, down from a previous forecast for a drop of as much as 2%, according to a trading update on Wednesday. It also sees a year-on-year decline in operating profit of up to 175 basis points, down from a flat forecast.