Ask Jeeves reports boost in earnings

Ask Jeeves, an Internet search site and technology provider, on Tuesday reported better-than expected earnings and raised its guidance for 2003 based on improvements in the online advertising industry. The Emeryville, Calif.-based company reported a first-quarter pro forma net income of $3.2 million, or 7 cents per share, on revenue of $25.2 million, excluding restructuring costs, amortization of goodwill and other assets. That compares with a pro forma net loss of $8.7 million, or 22 cents per share, on revenue of $16.1 million for the comparable year-ago period. For the quarter, the company expected to earn a pro forma net income of $2 million, or 4 cents per share.

The company now plans to report a pro forma net income of about 25 cents per share on revenue of $102 million for 2003. The earnings report comes a day after the company upgraded its search site.