Online ad firm DoubleClick yesterday watched its stock price tumble 13.16% after revising full-year estimates downwards.
Reporting Q1 results on Thursday, DoubleClick actually beat analysts’ expectations with a loss of $10.5 million (8 cents per share) on $114.9m of sales. However, citing the slowdown in both the technology industry and the media sector, the company lowered its forecast for total 2001 revenues from $535m–$565m to $425m–$450m.
DoubleClick’s stock closed on $10.43, a fall of $1.58.
News source: Advertising Age - Daily Deadline