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DoubleClick (Nasdaq: DCLK) was up 1 3/16 at 13 1/8 in early trading Tuesday, even as the online advertising company reportedly warned of a fourth-quarter loss because of lower ad revenue.
Officials at the controversial firm reportedly told analysts and investors on a conference call that it expects a loss of 3 cents per share in the quarter, compared with analysts' expectations for a 2 cent profit. Revenue will come in between $126 million and $129 million, also below expectations, reports said.
In the call, which took place after the close of trading Monday, officials reportedly said they expect a loss for the first quarter of next year as well, though they still expect a profit for the year as a whole.
DoubleClick shares took a pounding Monday after the company announced it would hold the call. Back in October, DoubleClick warned of a weak fourth quarter.
Analysts have been wary of online advertising stocks for some time, as the companies struggle to cope with weak sales. Dot-com companies, once big spenders, are going out of business or cutting costs, even as larger, more traditional advertisers are delaying big campaigns.
DoubleClick reported third-quarter revenue of $135.2 million, 79 percent above a year earlier, while income before items totaled $3.7 million, or 3 cents per fully diluted share, compared with a loss of $3.8 million, or 3 cents, in last year's third quarter.
DoubleClick shares are down from a 52-week high of 135 1/4, reached in January. The 52-week low of 8 3/4 was set October 18th.
Last week, reports of
planned layoffs at the company sent the stock lower.
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