WPP’s health and wellness, brand consulting, and specialist communications unit reported a 2.2% like-for-like revenue increase in the second quarter of 2018 to £1.16 billion, or about $1.5 billion.
The unit accounted for 32% of WPP’s business in the quarter.
For the holding company overall, like-for-like revenue in the quarter increased by 2.4% in the quarter to $5 billion. Revenue from its advertising and media investment unit increased by 3.1%, data investment management dipped by 1.8% while PR and public affairs grew by 5.8%.
WPP saw growth across regions except for North America, which reported an 0.3% drop in revenue in the quarter, sending its share price down 8% on Tuesday morning.
The earnings report is the first for Mark Read as WPP’s CEO after his appointment this week. Read had been serving as joint COO with Andrew Scott since Sorrell’s resignation in April. Previously, he was chief executive of Wunderman.