WPP: Revenue Fell 2% in Q1

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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.

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