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DOUBLECLICK REPORTS REVENUE DROP OF 31%

By Published on .

NEW YORK (AdAge.com) -- New York-based online ad solutions company DoubleClick saw its third-quarter revenue decrease 31% from the same period last year.

The company reported revenue of $92.7 million and posted a net loss of $103.5 million, compared with a net loss of $10.7 million for the same period last year.

Hardest hit was

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the company's global media unit, which saw revenue decline to $22.2 million, or by 65%, compared to the third-quarter 2000. The company's TechSolutions division had revenue of $48.5 million in the third quarter, a slight decline over the second quarter when the unit reported earnings of$51.8 million. The Data unit had revenue of $24.1 million, an increase over the second quarter when the unit had $19.3 million in revenue.

Despite its declining fortunes, DoubleClick is continuing to use the current economic downturn to negotiate inexpensive acquisitions.

Last week, DoubleClick said it had revised its merger agreement with e-mail company MessageMedia so it would be paying approximately 20% of the original price of $41 million it had agreed to pay in Jun.

The new deal is expected to close in the fourth quarter.

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