Shares of DoubleClick rose 31 percent on Friday, closing at $14.75, one day after the company released its year-end 2000 and fourth-quarter financial results. While DoubleClick warned of a slowdown in 2001 online advertising revenue of between 25 and 30 percent, analysts attributed Friday's rise to positive results in the company's TechSolutions unit. That unit, which provides interactive marketing solutions such as ad serving, reported fourth-quarter revenue of $61.5 million, for the first time surpassing the amount of revenue that DoubleClick received from online ad sales. The rise in DoubleClick shares had a halo effect on other beleaguered stocks in the sector, including Engage and 24/7 media, both of which recorded double-digit gains.
Copyright January 2001, Crain Communications Inc.