Digitas Client Losses Drive Down Forecast

  • July 20, 2006
In the wake of account losses and spending cuts by clients, digital ad and marketing agency Digitas this week lowered its revenue guidance for this year. The agency reported that it lost three clients--Best Buy, Ameriprise Financial and FedEx--and that two others--General Motors and Delta Air Lines--curtailed ad spending. Digitas now estimates that this year's fee revenue will total $380 million to $395 million, down from the previous forecast of $405 million to $427 million.
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