ComScore cuts full-year revenue outlook, shares fall
Aug 2 (Reuters) - Online data tracking service company ComScore Inc posted a quarterly profit on an adjusted basis, but cut its full-year revenue forecast due to weakness in its TV copy testing business and a weak euro.
ComScore shares, which closed at $15.45 on the Nasdaq on Thursday, fell 12 percent in trading after the bell.
The company cut its 2012 revenue forecast to between $248.1 million and $255.1 million from its previous forecast of $277 million to $281.7 million.
Analysts on average were expecting a full-year revenue of $277.5 million, according to Thomson Reuters I/B/E/S.
The company said it cut its full-year revenue outlook to reflect "greater anticipated foreign exchange impact due to the fragile economy in Europe and the effects of declines in traditional TV copy testing revenues."
ComScore gets 15 percent of its revenue from Europe.
The company entered the copy testing business in 2010 following the acquisition of ARSgroup, which offered survey-based studies that help advertisers to pre-screen a TV commercial before putting it on air.
Increased competition has resulted in copy testing ceasing to be a strategic fit for comScore, the company said in a statement.
Second-quarter net loss narrowed to $6.6 million, or 20 cents per share, from $8.2 million, or 26 cents per share, a year earlier.
Excluding items, the company earned 37 cents per share.
Revenue for the quarter rose 4 percent to $60.3 million.
Analysts on average were expecting a loss of 1 cent per share on revenue of $64.2 million, according to Thomson Reuters I/B/E/S.
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