Thursday, July 17, 2008
ValueClick Lowers Estimates, Blames Economy
Westlake Village-based ValueClick said this morning that it is lowering its revenue guidance for the second quarter, blaming a sluggish economy for taking a toll on its results. According to ValueClick, the firm saw essentially flat revenue within its Media segment, which operates its comparison shopping and U.S. display advertising businesses. The firm said it expects revenues of between $163M and $164M, compared with prior guidance of $166M to $170M for the quarter. The firm said that it no longer expects strength in ad spending in the second half of the year, which has typically been stronger than the first half. Among the firm's Fiscal 2008 changes to estimates, ValueClick said it expects a high 20% decrease in revenues from lead generation.