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Ariba serves a hot tamale
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January 11, 2000: 5:16 p.m. ET
E-commerce service beats Street, posts 243 percent revenue increase
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NEW YORK (CNNfn) - Business-to-business e-commerce service provider Ariba Inc. beat Wall Street's earnings expectations Tuesday, posting record revenue and smaller losses for the first quarter of fiscal 2000.
The Mountain View, Calif.-based company posted a net loss for the first quarter of $5.6 million or 7 cents per share, excluding amortization of stock-based compensation. Ariba also saw a 7-cent per share loss in the year ago period, when the company posted a net loss of $1.2 million.
Analysts polled by First Call Corp. expected Ariba to post an 11-cent per share loss. Including amortization, net loss for the first quarter was $10.3 million or 13 cents per share.
Ariba (ARBA) reported record revenue of $23.5 million, a 243 percent increase over the year ago period.
The company said in a statement that several new corporations had joined its Ariba B2B eCommerce platform, including Sony Corp. (SNE), Qwest Communications International (Q) and Telecom New Zealand.
"Our first fiscal quarter results marked a pivotal point for Ariba and the B2B eCommerce marketplace," said Keith Krach, chairman and chief executive officer of Ariba. "We continued to broaden our lead in the core buy-side eCommerce market, closing the calendar year with more and larger buying organizations than any other player."
Ariba makes operating resource management products, which helps companies track supply purchases over the Internet and corporate intranets. 
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Ariba
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