Glenn Beck Glenn Beck

Glenn Beck has lost another advertiser.

Geico and stopped advertising on Beck's show after he called President Barack Obama "a racist" on a July 28 episode of Fox and Friends. A spokeswoman for GMAC Financial Services told on Monday that the company has "ceased to advertise on The Glenn Beck Program," though she would not say why.

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"I'm not going to go into specifics," spokeswoman Sue Mallino said. "We advertise on a number of programs in order to align with what we think is our target market, so all I'm going to say at this time is that we ceased advertising on The Glenn Beck Program."

She said the company will continue to advertise on other Fox News shows.

A spokesperson for Fox News responded that "the advertisers referenced have all moved their spots from Beck to other programs on the network so there has been no revenue lost."

Beck said on Fox and Friends that Obama has "a deep-seated hatred for white people or the white culture." He then added, "I'm not saying that he doesn't like white people. I'm saying that he has a problem. This guy is, I believe, a racist."