WPP shares jump 25% as Q2 revenue decline slows, signaling turnaround progress

WPP shares jumped about 25% after its second-quarter results showed a sharply slower revenue decline, signaling the advertising firm’s restructuring is gaining traction. Like-for-like revenue less pass-through costs fell 2.8%, improving from a 6.7% first-quarter drop. Media and creative divisions narrowed declines, production grew 1.3%, and first-half operating margin rose to 8.4%. The company targets 100 million savings next year and 500 million annualized cuts by 2028. Shares trade below GuruFocus fair value, but sustained revenue growth remains the key test.