Investing.com - WPP (LON:WPP) reported on Friday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
WPP announced earnings per share of £33 on revenue of £6.76B. Analysts polled by Investing.com anticipated EPS of £29 on revenue of £2.81B.
WPP shares are down 26% from the beginning of the year, still down 32.93% from its 52 week high of £1,231.50 set on February 10. They are under-performing the FTSE 100 which is up 0.62% from the start of the year.
WPP shares lost 7.48% in intra-day trade following the report.
WPP follows other major Communication Services sector earnings this month
WPP's report follows an earnings beat by BT Group on July 28, who reported EPS of £0.0496 on revenue of £5.13B, compared to forecasts EPS of £0.0424 on revenue of £5.1B.
Pearson had beat expectations on Monday with second quarter EPS of £22.5 on revenue of £1,788M, compared to forecast for EPS of £19.28 on revenue of £1,730M.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar