Ask Jeeves Profit Doubles; Shares Fall
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Ask Jeeves Inc., owner of Internet sites including Ask.com and Excite.com, said second-quarter profit more than doubled as it sold more advertising. Its shares fell 10% after it forecast lower third-quarter profit than analysts had estimated.
Net income rose to $11.6 million, or 18 cents a share, from $4.4 million, or 8 cents, a year earlier, the Emeryville, Calif.-based company said. Revenue more than doubled to $60.3 million from $25.6 million.
The company forecast third-quarter profit, excluding amortization and some other items, of 24 cents a share. Analysts surveyed by Thomson First Call had estimated 27 cents.
Ask Jeeves shares fell $3.16 to $27.86 on Nasdaq.
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