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DoubleClick Posts Profit
By Internetnews.com
News Source
Article Date: 2003-04-16
DoubleClick (Quote, Company Info) returned to profitability with its first-quarter results Tuesday, after spending a painful year recasting its business.
The company, which jettisoned its media business to focus on technology tools, reported a $1.4 million profit for the quarter on $60.1 million of revenue. While the revenue figure was down from last year's first quarter, the profit stood in contrast to the $6 million loss the company suffered in that period -- an improvement attributable to cost cutting.
The results exceeded DoubleClick's forecasts, and could be a positive sign for the online ad industry, which was buoyed by another strong quarter from Yahoo!.
"The overall Internet advertising market as a whole is not growing as fast as Yahoo!'s growing," cautioned Kevin Ryan, DoubleClick's chief executive, on a conference call. "The Internet advertising market is picking up, but I don't think it's exploding at all."
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