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DoubleClick loss narrows, revenue falls 27%

Published on .

New York--Online advertising company DoubleClick Inc. reported its first-quarter loss narrowed compared with last year due to aggressive cost cutting, even as revenue continued to fall.

The company, which has struggled to sell online ads, reported a first-quarter net loss of $6 million, or 4 cents a share, compared with a loss of $60.4 million, or 48 cents a share, a year earlier.

On an operating basis, excluding unusual items, the company earned a profit of $1.4 million, or 1 cent a share, compared with an operating loss of $10 million, or 8 cents a share, a year earlier.

The latest numbers from DoubleClick indicate that online advertising is still stuck in the doldrums. First-quarter revenue fell to $84 million, from $115 million a year earlier. Revenue was also down from $96 million in the fourth quarter. DoubleClick said it expects second-quarter revenue to be between $77 million and $82 million.

DoubleClick shares were down nearly 3% to $9.70 in early morning Nasdaq trading.

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