NEW YORK DoubleClick said today that it has sold its 15 percent stake, or about 3.9 million shares, in AdLink Internet Media AG for about $9.5 million to the German online ad network's majority shareholder, United Internet AG.
With DoubleClick focusing on providing technology and data solutions to marketers and publishers, it was not "a strategic fit to own shares in an online ad network," explained Kevin Ryan, CEO at the New York-based company.
Though DoubleClick no longer holds an equity interest in AdLink, the latter will continue to use the former's ad management products and services.
As a result of the sale, DoubleClick revised its financial outlook, saying that it expects to record a non-operating gain of about $7.4 million, increasing third-quarter and full-year earnings per share by about 6 cents. Its revenue forecast remains the same.
In July, DoubleClick projected third-quarter earnings per share of 2-5 cents on revenue of $76-82 million, and full-year earnings per share of 13-17 cents on revenue of $290-305 million [IQ Daily Briefing, July 23].