WPP's quarterly results are out. Reportable revenues up over 14% and exceeding $3 Billion for the first time ever, which means WPP is on tract to achieve its full margin objective of 15.5%. While this sounds like tasty news, shares dipped 6% in early trading today despite these results. The Guardian attributes this dip to "disappointing figures for March, when the company's like-for-like organic revenue growth dropped to just 3% year on year."

North America performed well despite the talk of recession with like-for-like revenues up by more than 5% over the second half of 2007. Yes, well all the boys from Havas, WPP and Interpublic say the same thing - next year is going to be the real bitch.