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AOL revenue forecasts poo-pooed by analysts

Surely you jest, sir...

By Aled Herbert

Published: 6 June 2002 08:45 BST

AOL has defended its forecasts for internet advertising revenues after Wall Street analysts expressed doubts about the figures.

The internet bellwether told investors it expects to generate a minimum of $1.8bn this year. Last year, analysts predicted the company would generate revenues of around $4.6bn in 2002.

However, investment bank Lehman Brothers said it doubted its revenues would total $1.79bn this year, according to the Financial Times.

AOL shares fell five per cent following his comments.

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