Updated from 9:13 a.m.

InfoSpace ( INSP) was down 27.4% in early trading. Late Tuesday, the provider of Internet and wireless content and services said it will post losses for the third and fourth quarters as a result of the slowdown in technology spending.

The company posted earnings of 1 cent per share for the second quarter, but said it would lose 5 cents a share for the current quarter and 4 cents a share for the fourth quarter. Analysts are expecting break-even results for the third quarter and earnings of 1 cent a share for the fourth quarter, according to Thomson Financial/First Call.

The company said revenue for the second quarter was $51 million and is expected to fall to $33 million in the third quarter.