WPP Plc (WPPGY) Reports Notable Increase in Q3 Revs
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WPP Plc (NASDAQ: WPPGY) reported Q3 revenue came in at $3.95 billion versus the consensus estimate of $3.49 billion.
WPP commented: "At the half year, headline operating margins improved 0.7 margin points to 11.0% compared with 10.3% in the first half of 2010. Operating margins, before short and long-term incentives and the cost of share-based incentives, were 13.9%, up 0.8 margin points compared with 13.1% last year. Operating margins, both before and after incentives, also improved over last year in the third quarter, despite significantly tougher comparatives. As a result, our full year operating margin should improve beyond the 70 basis points or 0.7 margin points achieved in the first half and in comparison to the budgeted operating profit margin improvement of 0.5 margin points. This is reflected in the Groups third quarter revised forecast."
WPP commented: "At the half year, headline operating margins improved 0.7 margin points to 11.0% compared with 10.3% in the first half of 2010. Operating margins, before short and long-term incentives and the cost of share-based incentives, were 13.9%, up 0.8 margin points compared with 13.1% last year. Operating margins, both before and after incentives, also improved over last year in the third quarter, despite significantly tougher comparatives. As a result, our full year operating margin should improve beyond the 70 basis points or 0.7 margin points achieved in the first half and in comparison to the budgeted operating profit margin improvement of 0.5 margin points. This is reflected in the Groups third quarter revised forecast."
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