AOL revenue forecasts poo-pooed by analysts

Surely you jest, sir...

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.