DoubleClick’s Loss Widens as Revenue Falls

DoubleClick Inc., the No. 1 online-advertising company, said its second-quarter loss widened to $9.5 million, or 7 cents a share, a penny better than reduced analyst expectations. The company lost $3.8 million, or 3 cents a share, a year ago.

Revenue fell 20% to $101.9 million at the New York-based company. Sales from its media business dropped 51% to $33.8 million, while sales in its tech business rose 6% to $51.8 million and data unit sales grew 22%.

DoubleClick reiterated its reduced 2001 revenue forecast and predicted losses for the rest of the year and said it will continue to manage costs, through job cuts and other measures, to meet its goals.

DoubleClick shares closed off 74 cents at $12.02 on Nasdaq before the announcement.