Online advertising agency Avenue A (AVEA) warned investors today of lower-than-expected earnings for the third quarter, ending Sept. 30.
First Call/Thomson Financial
, analysts are expecting the company to lose about 13 cents a share in its third quarter and 10 cents a share in its fourth quarter. The company said that it expects to report revenues in the "low- to mid-$40 millions" for the third quarter. Earlier, the company cited an estimate of $54 million for the same quarter.
Shares of Avenue A opened up 6 cents, or 0.8%, to $7.88.