By Kate Hanaghan, 22 January 2002 17:18
NEWS Ariba's loss for the first quarter 2002 proved less than analysts had expected. The company turned in a net loss of $161m compared to $347.6m in Q1 2001 on revenues of $55m. The company's CEO now claims that after a torturous year, in which it experienced huge losses and a merry-go-round of senior executives, it is positioned for pro forma break-even in June. The company has dropped the now infamous B2B label and is touting itself as a spend management company.
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