WPP won Coca-Cola's global data and technology advertising account, but the victory is more complex than headlines suggest. Publicis strategically withdrew to pursue the more profitable PepsiCo account, revealing that large client wins don't always translate to improved financials—WPP's net revenue declined 4.7% despite major client acquisitions. The real challenge for WPP lies in organizational restructuring and technology integration across fragmented agency units, where siloed profit-and-loss accounts undermine cross-agency collaboration on platforms like WPP Open.