DoubleClick Posts Loss Amid Decline in Ads
DoubleClick Inc. reported an operating loss of $12.6 million, or 9 cents a share, contrasted with a year-ago profit of $3.7 million, or 3 cents, amid a sharp downturn in the online advertising sector. Revenue fell 31% to $92.7 million.
Analysts on average were expecting a loss of 10 cents at the New York-based company.
DoubleClick said its fourth-quarter loss will be smaller than analysts expected, although revenue will miss forecasts.
Chief Executive Kevin P. Ryan also predicted that the company could be profitable in 2002, with help from stringent cost-cutting.
DoubleClick shares closed up 59 cents at $7.49 on Nasdaq, before the results were released.
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