VeriSign has ssaid that its Q3 revenue would come in at $25 million to $30 million less than previously forecast…it said its revenue would total approximately $410 million, less than its previous forecast of $435 million to $440 million. This is due to regulatory clampdown on its Jamba service in Europe…
“VeriSign experienced mixed results in the third quarter, as the strength in our Internet and core communications businesses was not enough to offset a revenue shortfall in the mobile-content area due to higher than expected seasonal churn and further developments in industry requirements and guidelines for the marketing of mobile content in Europe,” said CEO Stratton Sclavos.
BusinessWeek: Mobile-content sales will be $115 million, vs. an earlier forecast of $140 million…And Q4 is looking bleaker still. Mobile-content revenue will drop to between $90 million and $95 million. VeriSign may need to find a new way to reach customers…VeriSign is finally selling its content to Sprint customers in the U.S., but growth is slow, and talks with Verizon Wireless remain mired.
TheStreet.com: In a little more a week, at least two analysts have lowered their forecasts on VeriSign, citing similar issues in the company’s Jamba! mobile content business.
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