ValueClick 1Q profit edges 3 percent higher as revenue jumps
WESTLAKE VILLAGE, Calif.—ValueClick Inc.'s first-quarter profit rose 3 percent as revenue rose sharply, the seller of online advertising said Tuesday.
Net income for the three months ended March 31 increased to $19.2 million, or 19 cents per share, from $18.6 million, or 18 cents per share, in the year-ago period.
Analysts, on average, expected profit to come in at 16 cents per share, according to Thomson Financial.
Revenue rose 12 percent to $176 million, from $156.9 million last year, and surpassed Wall Street's estimate of $169.6 million.
Operating expenses rose 13 percent, to $19.2 million.
The company also raised its 2008 profit target, "in spite of some macroeconomic weakness."
In electronic aftermarket trading, the stock added 17 cents to $20.69, after closing Tuesday at $20.48.
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