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May 9, 2013 12:13 am GMT
Groupon just reported its earnings for its first financial quarter of 2013. The company, which is still looking for a new CEO after the ouster of Andrew Mason in February, posted a $0.01 loss per share but says its non-GAAP EPS excluding stock-based compensations was $0.03. Its revenue was significantly higher than expected with $601.4 million in sales, compared to $0.02 earnings per share (EPS) on $559.3 million of revenue in the year-ago quarter. Wall Street clearly likes these numbers. The stock is currently up 11% at $6.21. The expectation among financial analysts was that the company would report an year-over-year sales growth of 5.3% and an EPS of $0.03 on revenue of $588.92 million for this quarter (with a high very optimistic high estimate of $618.5). Last quarter, Groupon reported $638.8 million revenue, buoyed by a strong holiday season, but the company still posted an operating loss of $19.9 million and a loss per share of $0.12. “We are encouraged by our results, as our local revenues accelerated and our margins improved over the prior quarter,” said Eric Lefkofsky, Chairman and co-CEO of Groupon. “We had record mobile performance as 45% of our North American transactions came from mobile in March, and more than 7 million people downloaded our apps in the quarter. One of the main indicators for Groupon’s health has long been gross billings – a reflections of how much money the company has collected from its customers for Groupons it has sold. Last quarter, gross billings increased 24% to $1.52 billion. Gross billing for this quarter was $1.41 billion and the company says it has $1.2 billion in cash and cash equivalents. In the last quarter, Groupon also reported that it had 41 million active customers, up 22% quarter-over-quarter and that it was handling about 37,000 active deals at any given time. In the last quarter, Groupon says the number of active customers grew to 41.7 million – a 13% year-over-year growth but just a minor increase from the last quarter. Groupon has obviously been through a somewhat tumultuous time recently. The company’s ouster of CEO Andrew Mason after a number of disappointing quarters, however, seems to have brought some stability back to the company. Its share price remains low, though it’s up from its all-time low of $2.60. Currently, the stock is trading at around $5.60. After Mason’s exit, executive chairman Eric Lefkofsky and vice
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/yNrwwF3SjWo/
Groupon's Q1 Results: Beats With $601.4 Million In Revenue, Stock Up 11% In After Hours Trading
Groupon just reported its earnings for its first financial quarter of 2013. The company, which is still looking for a new CEO after the ouster of Andrew Mason in February, posted a $0.01 loss per share but says its non-GAAP EPS excluding stock-based compensations was $0.03. Its revenue was significantly higher than expected with $601.4 million in sales, compared to $0.02 earnings per share (EPS) on $559.3 million of revenue in the year-ago quarter. Wall Street clearly likes these numbers. The stock is currently up 11% at $6.21. The expectation among financial analysts was that the company would report an year-over-year sales growth of 5.3% and an EPS of $0.03 on revenue of $588.92 million for this quarter (with a high very optimistic high estimate of $618.5). Last quarter, Groupon reported $638.8 million revenue, buoyed by a strong holiday season, but the company still posted an operating loss of $19.9 million and a loss per share of $0.12. “We are encouraged by our results, as our local revenues accelerated and our margins improved over the prior quarter,” said Eric Lefkofsky, Chairman and co-CEO of Groupon. “We had record mobile performance as 45% of our North American transactions came from mobile in March, and more than 7 million people downloaded our apps in the quarter. One of the main indicators for Groupon’s health has long been gross billings – a reflections of how much money the company has collected from its customers for Groupons it has sold. Last quarter, gross billings increased 24% to $1.52 billion. Gross billing for this quarter was $1.41 billion and the company says it has $1.2 billion in cash and cash equivalents. In the last quarter, Groupon also reported that it had 41 million active customers, up 22% quarter-over-quarter and that it was handling about 37,000 active deals at any given time. In the last quarter, Groupon says the number of active customers grew to 41.7 million – a 13% year-over-year growth but just a minor increase from the last quarter. Groupon has obviously been through a somewhat tumultuous time recently. The company’s ouster of CEO Andrew Mason after a number of disappointing quarters, however, seems to have brought some stability back to the company. Its share price remains low, though it’s up from its all-time low of $2.60. Currently, the stock is trading at around $5.60. After Mason’s exit, executive chairman Eric Lefkofsky and viceOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/yNrwwF3SjWo/
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