Ariba Inc. (Nasdaq: ARBA) said Tuesday that revenue for the quarter ended March 31 is expected to be higher than analyst estimates.
The company cited strong demand for its business-to-business commerce platform and services.
Shares in the business-to-business e-commerce platform provider closed at 88 11/16 Monday, after falling from a split-adjusted 52-week high of 183 5/16. The stock has suffered along with other e-commerce players, as B2B buzz has been petering out.
The company said it expects to report revenue for the quarter in the range of $36 million to $38 million, about 25 percent to 30 percent higher than analyst expectations. The company did not state any expectations for second-quarter earnings. First Call’s consensus estimate of 24 analysts sees the company losing 8 cents a share for the quarter.
Ariba is scheduled to report second quarter results at the close of market on April 12.
Of 20 analysts covering the stock, seven rate it a “strong buy,” and the remaining 13 rate it a “moderate buy” according to Zacks Investment Research.
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