WPP PLC (NYSE:WPP ) Q2 2023 Earnings Conference Call August 4, 2023 4:30 AM ET Company Participants Mark Read - Chief Executive Officer Joanne Wilson - Chief Financial Officer Conference Call Participants Lisa Yang - Goldman Sachs Julien Roch - Barclays Matthew Walker - Credit Suisse Tom Singlehurst - Citi Mark Read Thank you very much and welcome everyone to WPP's First Half Results. I'm here ...
WPP PLC (LSE:WPP) has lowered its full-year growth forecast due to reduced spending by US firms as it reported profit halved in the first half of 2023. The advertising giant now expects full-year like-for-like growth of 1.5-3.0%, down from previous guidance of 3-5%, although headline operating profit margin of around 15.0% is higher than the 11.5% reported in the first half.
WPP PLC (LSE:WPP) and Nvidia Corp have agreed to develop a platform that will create automated digital adverts using artificial intelligence. The world's largest advertising company said that integrating 3D tools with generative AI would allow its creative teams to produce commercial content, such as images and videos, more quickly.
Shares of ad agency WPP WPP, +2.98% rose 3% in early London trade after saying it's making a content engine in partnership with AI chipmaker Nvidia NVDA, +2.54%. The companies said the engine will allow WPP to make large volumes of brand advertising content such as images or videos and experiences like 3D product configurators more tailored and immersive.
U.K. advertising-holding company WPP is teaming up with U.S. chip giant Nvidia to develop a content engine that uses generative artificial intelligence for digital advertising, the companies said Monday.
In the past year, WPP (-4.72%) has experienced poorer price performance than both the general market (SPY: +4.91%) and the communications index (XLC: +3.56%). This reflects a decline in advertising spending as a result of rising interest rates and sustained inflationary pressures, leading to a 75.07% YoY decline in FCF from 2021-22.
WPP PLC (LSE:WPP) shares fell on Thursday as the advertising giant reported slower growth in the first quarter, although client companies "continued spending" in communications, customer experience, commerce, data and technology despite recession worries in several major economies. On a like-for-like (LFL) basis growth was 4.9% for the first three months of 2023 compared to the same period las...
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