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aQuantive profits rise 87%
Online advertising revenue was good to aQuantive in Q1, with profits for the company reportedly raising 87%. Net income rose to $14.6 million while revenue was up to $142.6 million.
"aQuantive started 2007 with strong financial performance, resulting in 42% organic revenue growth," said Brian McAndrews, the company's president and CEO, in a prepared statement. "Our performance in the first quarter builds on the investments and results of 2006. Our focus on innovating, expanding globally and providing differentiated client service to the digital marketing industry is working."
McAndrews went on to say that the forecast for Q2 and, in fact, for the year were looking up, thanks in large part to the announcement of Google's buyout of Doubleclick. According to McAndrews, many online marketers are worried about the possible ramifications of how DoubleClick will now measure parent-company Google's ad results, and will leave DoubleClick because of it. Those concerned marketers, according to McAndrews, will have to turn to aQuantive's Atlas platform to serve their ads.
Looking ahead to the second quarter, the company expects net income to stay around $14 million, with revenue rising to $148 million. For the full year, aQuantive expects to see revenue between $595 million and $615 million and net income between $13 million and $14.5 million.
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