WPP shares surge 25% after first‑half results beat forecasts

WPP plc reported first‑half 2026 results that exceeded analyst expectations. Revenue fell 4.4% year‑on‑year to £6.37 bn, with like‑for‑like revenue down 3.2%, but operating profit margins improved to 4.1% (headline margin 8.4%). The better‑than‑expected performance lifted the share price by as much as 30% intraday, a rise of roughly 25% from the previous close.

Chief executive Cindy Rose said the results were “in line with our expectations” and highlighted progress on the Elevate28 turnaround plan, including the completion of a new organisational structure and the rollout of the WPP Open marketing platform. She noted continued client losses but pointed to a sequential improvement in media revenue and cost‑saving measures, such as a £3.5 bn reduction in personnel costs and a planned AI investment. The company expects a headline operating margin of 12‑13% for the full year and anticipates further revenue stabilization in the second half.

The announcement comes as WPP seeks to reverse a multi‑year decline in market value, having lost major accounts to rivals like Publicis and digital platforms. The share rally reflects renewed investor confidence in the company’s restructuring efforts.