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NEW YORK — WPP Group on Monday reported worldwide revenue of U.S. $1.37 billion for the first quarter of 2002, down 2 percent from the same quarter last year. And, excluding acquisitions and currency fluctuations, revenue fell nearly 9 percent, according to WPP.
Despite the decline, WPP said it was “on target” to achieve its budgeted operating margin.
Analyzed by region, the revenue decline was the greatest in North America, where on a constant currency basis, it was down 7 percent from the first quarter of 2001, WPP said.
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