AOL Outlook Reduced on Soft Ad Market
The company predicted its online ad and e-commerce revenue for 2002 will be $1.7 billion, but could slip an additional 5 percent. Earnings before interest, taxes, depreciation and amortization are expected to be $1.7 billion to $1.8 billion. Previously, the company said that EBITDA for the unit would be $1.8 billion to $2.2 billion.
The company's stock opened yesterday at $12.95 but dropped to a low of $12.52 before rebounding to $13.49 at the close of trading.