Theglobe.com (Nasdaq: TGLO) fell 7/32 to 25/32 Friday after the company, which provides such Internet content as games and information, said it expects a third-quarter loss because of a slowdown in online ad spending.
Revenue for the quarter will be between $6.1 million and $6.4 million, below analysts’ estimates for a loss of about $11 million, the company said. The pro forma net loss will be between 35 and 37 cents per share, compared with estimates of 28 cents.
Theglobe.com said it is restructuring its advertising sales department, opening a London office to capitalize on opportunities for growth in Europe, and diversifying revenue by structuring licensing deals to generate recurring fees.
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