SHARES in advertising giant WPP slumped 7 per cent in early trading yesterday after it issued a profit warning.
The agency, which recovered slightly to close the day down 4 per cent, reported its US tech clients are spending less on ads.
As a result it will make less this year and predicted that revenue growth will be limited to a ceiling of just 3 per cent, rather than the previously anticipated 5 per cent.
It did make £7.2billion in the first half of 2023, which represented growth of 3.5 per cent compared with the same period last year.
But its US arm saw a fall in revenue, in a huge blow for the firm and its investors.