ValueClick cuts revenue forecast
From Times Wire Reports
ValueClick Inc., the second-largest U.S. Internet advertising broker, reduced its full-year forecast after third-quarter sales missed the company’s highest projection. The shares fell the most in 2 1/2 months.
Revenue for the period ended Sept. 30 was about $156 million to $157 million, Westlake Village-based ValueClick said. The company had anticipated sales of $155 million to $165 million.
ValueClick blamed weakness in its so-called lead-generation business, in which the company gets paid only if a consumer acts on an ad, such as buying something or taking out a loan.
