New customers boost Ariba revenue

27 January 2012

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29 January 2012 | Angeline Albert

Spend management technology company Ariba enjoyed a revenue rise of 39 per cent to $125.7 million (£80 million) over the past financial quarter.

This was up on the $90.4 million (£57.5 million) that the firm made during the same period in 2010, the firm’s first quarter (three months up to 31 December 2011). The growth was attributed to an increase in new customers.

Some 244 buyer companies around the world purchased Ariba solutions during the quarter including Pfizer, Tyco International, AstraZeneca and ArcelorMittal. This included 48 new customers, and the firm completed 10 deals worth more than $1 million (£636,194).

It also represented a slight increase on revenue in the previous quarter, which was $122.7 million (£78.1 million).

According to the business’ results, Ariba’s revenue from subscription and maintenance increased by 48 per cent to $97.2 million (£61.9 million) compared to $65.9 million (£41.9 million) for the same quarter the year before.

Bob Calderoni, chairman and CEO of Ariba said: "Ariba’s strong momentum continued during the first quarter, leading to strong revenue growth and profitability.”

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