Ask Jeeves on Tuesday named a new president and reported better-than-expected earnings based on growth in the paid search market. The Emeryville, Calif.-based Web search company appointed Steve Berkowitz, former president of Ask Jeeves' Web properties unit, to president. Berkowitz will report to CEO Skip Battle.
The company reported a net income for the second quarter of $4.9 million, or 9 cents per share, on revenue of $25.6 million. That compares with a loss of $4.9 million, or 12 cents per share, on revenue of $15.4 million for the same period in 2002. Analysts expected the company to earn 7 cents per share, according to First Call. Ask Jeeves raised its earnings guidance for 2003 to an expected net income of $102 million, or 40 cents per share. Previous expectations were for earnings of $94 million, or 26 cents per share, for the year.