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NEW YORK Shares of Overture closed on the Nasdaq at $11.49, down $4.99 or 30 percent Thursday, a day after it reported first quarter earnings and reduced its full-year forecast.
For the full year, the provider of pay-for-performance search to Web sites said it now expects earnings of $22-26 million, or 35-42 cents a share. Analysts were projecting earnings of 63 cents in 2003. Overture said it continues to anticipate a 50 percent year-over-year revenue boost to more than $1 billion in 2003.
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