WPP Reports Weak Ad Revenue for 3Q

october 26, 2004  10:31 am
Signaling some doubts about the U.S. marketplace. WPP Group Tuesday reported relatively weak results for the third quarter of 2004. Revenues rose only 3.7 percent due to $1.962 billion due to weakness in the U.S. dollar, as well as weaker than expected performance in its advertising and media investment management units. WPP is the parent of Mindshare and Mediaedge:cia, and has agreed to acquire Grey Global and its MediaCom unit in a deal expected to close early next year.