Doubleclick in the Q3 dumps
Job cuts should improve Q4
Doubleclick is cutting jobs to slash costs, and expects to make a smaller Q4 loss than expected. But it will still miss its forecasts.
As for Q3, it has reported an operating loss of $12.6 million, compared with a profit of $3.7 million for the period a year earlier. Sales fell 31 per cent to $92.7 million.
Chief Exec Kevin Ryan predicts the company could be profitable in 2002, with help from stringent cost-cutting. He said the company has cut about 700 jobs this year and is likely to slash another 100 this quarter to make up for declining advertising sales. ®