Ask Jeeves Rallies After Strong Quarter
Updated from Jan. 28
Ask Jeeves (ASKJ Quote) rose 3% in early trading Thursday after the search engine company's earnings beat expectations. For the fourth quarter ended Dec. 31, the company reported revenue of $31.8 million, up 58% from the prior year's figure and ahead of the Thomson First Call consensus of $31 million. Pro forma income from continuing operations amounted to $8.2 million, or 14 cents per share, ahead of the First Call estimate of 11 cents. The year-ago figure was $4.5 million, or 10 cents per share. Including items such as amortization of other assets, the GAAP income from continuing operations was $7.6 million, or 13 cents per share. Ask Jeeves, which said that the growth in queries users made on its site outpaced query growth for the search market in general, derives a majority of its revenue from search-related ads sold by the search engine giant Google. Looking ahead, Ask Jeeves forecast 2004 revenues of about $142 million, just ahead of the $139 million already expected by analysts surveyed by First Call. Pro forma earnings per share, said the company, should hit 60 cents, ahead of the 56-cent First Call figure. On Thursday, the stock rose 59 cents to $22.68.- Loading Comments...
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