DoubleClick Plans to Restructure Abacus Direct Unit
DoubleClick Inc. said it plans to restructure operations within its Abacus Direct data unit, wire reports said. The company has been disappointed in the performance of the division.
DoubleClick expanded the division into new markets such as financial services, business-to-business and retail. But the new markets did not perform as well as expected. The New York-based network advertising provider said it had changed Abacus Direct leadership and would focus on those areas that show the most promise.
Chief executive Kevin Ryan made the announcement at a conference call after releasing the company’s third-quarter earnings.
DoubleClick posted third-quarter cash earnings of $3.7 million on revenues of $135.2 million. The total number of advertisers fell 10% since the second quarter.
