Overture Says Revenue Will Beat Forecasts
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Overture Services Inc. said its fourth-quarter revenue would come in ahead of the company’s previous forecast because of better-than-expected traffic and volume from its biggest partners.
The Pasadena-based Internet advertising company said revenue would be nearly $200 million, compared with its original forecast of $190 million.
Overture also said fourth-quarter operating income and net income were in line with the company’s previous forecast. Those results exclude a one-time charge of $8.7 million related to a payment stemming from a contract dispute with former affiliate Internet Fuel, Overture said.
Shares of Overture rose 75 cents to $31.04 on Nasdaq.
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