Stock Watch: Commerce One Rockets on Strong Quarter

Commerce One, Inc. was up 6 15/16 to 54 5/8 in early trading Thursday after reporting a huge jump in quarterly revenue.

Revenue rose to $35.0 million from $2.1 million, while the company's net loss before non-operating charges widened to $14.0 million, or 9 cents a share, from $7.8 million. Commerce One posted a net loss of $43.6 million, or 29 cents a share, compared with a loss of $12.3 million, or 14 cents, a year earlier.

The revenue gain was driven by "strong demand in all sectors," said Mark Hoffman, chairman and chief executive officer.

The B2B software company said it gained 70 new customers during the quarter, including Citigroup, Boeing and Eli Lilly, bringing the total customer count to 135. The company also became a partner in an automotive-exchange venture with the Big Three automakers and similar ventures involving the oil and defense industries.