DoubleClick’s Q1 revenue rises 12% year-over-year
Revenue at online advertising services company DoubleClick rose 12.2% to $76.3 million for the first quarter ended March 31, though costs incurred in a strategic review led to a net loss of $917,000 compared to year-ago net income of $7.7 million.
DoubleClick said its Q1 online ad management business continued to be profitable, even though its revenue declined 5% to $31.7 million from $33.3 million due to declines in pricing. "We saw continued profitability in ad management and had strong results from our search engine and affiliate marketing business," said CEO Kevin Ryan, who is leaving the company in June to pursue other interests.
DoubleClick said Q1 revenue from its Performics search engine and affiliate marketing products grew 50.5% to $6.3 million from $4.2 million a year ago. It added that it continues to sign up new customers for these products, including Gloss.com and The TJX Companies.
DoubleClick, which has agreed to be acquired by equity investment firm Hellman & Friedman LLC for $1.1 billion, said it expects 2005 revenue to be between $71 million and $77 million.
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