reported a narrower-than-expected operating loss for its third fiscal quarter, as the business-to-business software company saw its revenue grow more than sixfold.
The company reported a loss of 5 cents a share, excluding nonoperating charges, or $11.3 million, in the quarter ended June 30, compared with an operating loss of 11 cents a share, or $6 million, in the year-earlier quarter. Analysts surveyed by
First Call/Thomson Financial
had projected an operating loss of 8 cents a share in the latest quarter.
Revenue surged to $80.7 million for the quarter, double the previous quarter's revenue and up 578% from $11.9 million in the third quarter of 1999.
"We doubled our revenues from last quarter, signed more than 100 new deals and deployed more than twice as many customers as last quarter,'' said Keith Krach, Ariba's chairman and chief executive, in a statement.
Ariba's shares climbed 12 3/8, or 14%, to close at 103 1/2 ahead of the Mountain View, Calif.-based company's earnings report on Wednesday. In after-hours trading, the stock jumped another 10 1/2, to 114, according to
Including one-time charges, Ariba's net loss widened to $317.2 million, or $1.45 a share in the latest quarter, compared with $11.3 million, or 21 cents a share, in the year-earlier quarter.