Enron Corp.’s second-quarter earnings rose 30 percent thanks to its growing web-based trading arm, EnronOnline. Enron Chairman and Chief Executive Officer Ken Lay said "EnronOnline, our Web-based transaction system, registered a 92 percent increase in both volumes and transactions compared to the first quarter."
Telecoms
Building on its newfound e-company status, Enron expanded recently into broadband telecommunications. Since its launch last year, EnronOnline has realized over 200,000 transactions to a value of $100 billion, nearly 60% of Enron’s wholesale trade.
Market-maker
Furthering its diversification strategy, Enron plane to leverage its Online unit to make markets in other commodities such as paper, petrochemicals, plastics and broadband telecommunications capacity.
This article originally appeared in Oil IT Journal 2000 Issue # 7.
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