British multinational advertising and public relations company WPP (LSE: WPP) (NASDAQ: WPPGY.US) shares rose by more than 2.5% in early trade this morning, following the release of its third-quarter report.
The update told of like-for-like revenue growth of 5%, ahead of analyst expectations that had forecast a rise of 3.8%. Total revenue growth increased 7.4% to £2.68bn, against £2.50bn in Q3 2012.
In the nine months of reporting year to date, revenues are up 7.1% against the comparative period last year, with a 3.3% increase in like-for-like revenues, which is also ahead of consensus.
Management attributed the acceleration seen in the third quarter to “particularly strong growth… in North America, the UK and Latin America and functionally in advertising and media investment management, data investment management and healthcare communications”.
Elsewhere, WPP brought in net new business of $3.72bn in Q3, against £1.42bn in the same period last year, helping the media company to rank first in all net new business tables.
