WPP Posts in Line Third-Quarter Update; On Pace to Meet 2016 Organic Growth Target of 3%
WPP reported its third-quarter trading update with total revenue coming in line with expectations. Net sales improved by 23% on a reported basis and 3% on a like-for-like basis. The strong improvement in reported sales stems from the ongoing weakness of the pound after the United Kingdom voted to leave the European Union, which accounted for 16% of the increase in sales. We are maintaining our fair value estimate of 1,635 GBX and our narrow economic moat rating. With shares trading in the 3-star...WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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