DoubleClick Lightens Dotcom Darkness

15 January 2001

Online advertising specialist DoubleClick bucked the current climate of dotcom doom as its shares soared 31% on Friday in the wake of bullish year-end financial figures.

Although the company forecast a slowdown of between 20%-25% in online ad sales during 2001, positive results in its TechSolutions unit cast a golden light over the results.

The unit, which provides interactive marketing solutions like ad serving, posted Q4 revenues of $61.5 million – overtaking for the first time the income earned from online ad sales.

DoubleClick’s stock recovery had a beneficial side-effect on other embattled companies in the sector, among them 24/7 Media and Engage. The stock of both enjoyed double-digit price increases.

News source: Advertising Age - Daily Deadline