Web advertising firm
saw its revenues triple and its operating losses widen in the first quarter, matching estimates.
The company posted a loss of $13.2 million, or 11 cents a diluted share, million, excluding one-time charges, compared with $3.1 million, or 3 cents a share, in the period a year earlier.
DoubleClick, which places advertising banners on targeted Web sites and tracks Web users' activity, reported revenues of $110 million, a 179% jump over the $39.4 million the company took in during the first quarter of 1999.
DoubleClick officials said in a conference call that they expected the company to begin turning a profit by the end of the year.
The New York-based company has seen its stock price plummet more than 40% since early February when DoubleClick shelved a plan to identify and distribute the names of Web site visitors after a torrent of criticism over how some Web companies gather and use personal information about individuals. DoubleClick chose to wait for the government and industry to set privacy standards before implementing its plan.
Since then, the company has taken a series of steps aimed at calming fears over privacy, including hiring a chief privacy officer, establishing a privacy advisory board and expanding its privacy awareness ad campaign.
The net loss for the quarter was $18.4 million, or 16 cents a diluted share, compared with $42 million, or 38 cents a share, in the 1999 first quarter.
DoubleClick shares closed Monday down 3/4, or 1%, to 59 13/16. The stock fell to 59 in after-hours trading, according to