CORRECTED - CORRECTED-UPDATE 1-Ariba Q2 adjusted profit narrowly beats esima

(Corrects paragraph two to show the company reported second quarter results and not first quarter.)

* Q2 adj. EPS $0.15 vs est. $0.14

* Q2 rev $84.7 mln vs est. $85 mln

April 30 (Reuters) - Ariba Inc (ARBA.O), which provides procurement software and consulting services, posted an adjusted quarterly profit that beat market estimates by a penny, helped by a jump in subscription software revenues.

For the second quarter, however, the company posted a net loss of $4.7 million, or 6 cents a share, compared with a net loss of $12.4 million, or 16 cents a share, a year ago.

Revenue rose 5 percent to $84.7 million. Subscription software revenue rose 27 percent to $36.4 million.

Excluding items, the company posted earnings of 15 cents a share.

Analysts were expecting earnings of 14 cents a share, before items, on revenue of $85 million, according to Reuters Estimates.

Shares of the company closed at $9.61 Thursday on Nasdaq.

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