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Google may continue to grab most of the attention, but a larger group of specialist internet advertising companies has also seen unexpectedly strong growth of late thanks to the boom in online media, according to results from two of the biggest announced on Tuesday.

ValueClick, which runs an online advertising network and engages in the sort of “cost-per-action” advertising that has drawn the attention of Google, raised its financial guidance for the rest of this year to reflect a surge in revenues. The news contributed to a 15 per cent jump in the company’s shares.

Meanwhile, aQuantive, which owns the online marketing services companies Razorfish and Avenue A, saw a 20 per cent leap in its shares as it also beat Wall Street expectations for the latest quarter and issued a bullish forecast.

Shares in both companies had slipped this year in line the broader internet sector, reflecting concerns about slowing growth and the threat to profit margins as online companies are forced to spend more to compete. The latest figures from both companies, however, pointed to continued strong growth.

ValueClick said that, leaving aside the impact of acquisitions made over the last year, its revenues had jumped by 35 per cent from a year ago, to $130m. It raised its forecast for the range of its revenues this year by 5 per cent, to $495m-505m.

AQuantitive, which earlier this year extended its reach overseas with the acquisition of UK online marketing company DNA, registered a 37 per cent increase in revenues.

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