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Getupdated Drops Most in a Month on Loss, Forecast
Getupdated Internet Marketing AB, the biggest Internet marketing company listed in Sweden, fell the most in a month in Stockholm trading after reporting a third-quarter loss and saying it won't meet its forecast.
The shares declined 0.5 krona, or 11 percent, to 4 kronor, the steepest drop since Oct. 10, giving the Stockholm-based company at 110.5 million kronor ($14 million).
The loss was 14.7 million kronor, compared with a profit of 3.6 million kronor a year earlier, as the company wrote down goodwill from an acquisitions by 14 million kronor, it said in an e-mailed release.
Getupdated said it won't meet an earlier profit goal that it didn't specify. It didn't give a new forecast.