September 30, 2023

Digital Marketing Education

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S4 is the latest holding company to cut its forecast amid tech marketing pullback

Ad agencies have been hit by a recent pullback in spending from large technology firms, which have slowed from pandemic-fueled growth. Still, the damage has hit Sorrell’s company particularly hard. The stock, down 65% since the start of 2023, fell 30% to 67.05 pence in London trading at 3:06 p.m. 

By comparison, Sorrell’s old firm, WPP Plc has fallen 8.7% this year. Omnicom Group Inc. has declined 6.4%. Shares of France’s Publicis Groupe SA have gained 21% during 2023.


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