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DoubleClick cuts third-quarter forecasts

LONDON - Online advertising network DoubleClick expects third-quarter losses to widen after a fall in demand for advertising and software as a result of last week's terrorist attacks in New York.

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Doubleclick had been expecting losses of 5-7 cents a share on revenues of between $96m-$102m (£65.8m-£69.9m). However, following last week's events in New York and Washington, the company forecasts a loss of 9-10 cents a share on revenues of $87m-$90m (£59.6m-£61.7m).

Bruce Dalziel, chief financial officer, said, "The tragic events of September 11 have led to softness in both online advertising and software sales."

Shares in the company rose 1.6% to $7.05 (£4.80) on Nasdaq yesterday, after falling about 15% this week.

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