In its second-largest acquisition, Amazon buys the company for $970 million.
ValueClick Inc. posted higher revenue in the second quarter, but also cited a weakening economy as the main reason behind a drop in net income. Revenue increased by 10% while net income declined by 6.3%.
ValueClick Inc. posted higher revenue in the second quarter, but also cited a weakening economy as the main reason behind a drop in net income.
For the second quarter ended June 30, ValueClick posted net income of $16.5 million on revenue of $163.8 million, compared with net income of $17.6 million on revenue of $148.7 million in the prior year. For the period of January through June, ValueClick recorded net income of $35.7 million on sales of $339.9 million vs. net income of $36.3 million on revenue of $305.6 million in the prior year.
“While increased macro economic uncertainty makes revenue growth more challenging for the second half of the year, we are taking meaningful steps to preserve margins and drive long-term growth and shareholder value," says ValueClick CEO Tom Vadnais. "We are accelerating initiatives to increase synergies among our businesses.”
For the third quarter and the full year, ValueClick expects revenue to range from $150 million to $156 million and $665 million to $675 million, respectively.
ValueClick, an online marketing firm, operates Commission Junction, ValueClick Media, Mediaplex and PriceRunner.