Groupon Inc. (NASDAQ:GRPN) shares climbed after the company posted its second-quarter results after Thursday’s closing bell. Here’s a look at the details inside the report.
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Groupon Q2 Details
Groupon reported quarterly losses of four cents per share, which beat the analyst consensus estimate for losses of nine cents, according to Benzinga Pro data.
Quarterly revenue came in at $124.68 million, which missed the Street estimate of $127.09 million and was down from $125.7 million in the same period last year.
Groupon reported the following second-quarter highlights:
- Global Revenue down 1% and Billings down 1% (down 1% FX-neutral) year-over-year.
- North America Local Revenue down 2% and Local Billings down 1%, reflecting softness in Health, Beauty and Wellness, partially offset by strength in Things to Do.
- International Local Revenue up 8% and Local Billings up 2% (down 1% FX-neutral).
- Active customers grew 2% to 16.1 million, with growth in both North America and International Local categories.
- Unit sales were 8.5 million, down 7% year-over-year.
“Project Foundry, our AI-native redesign of how Groupon operates, remains the most consequential work underway at the company, and just over four months in, we are extremely pleased with the progress we have made,” said Dusan Senkypl, CEO of Groupon.
“While Q2 fell slightly short on the top line, we entered the third quarter with momentum and expect growth to accelerate in the second half,” Senkypl added.
GRPN Stock Price Activity: According to data from Benzinga Pro, Groupon stock was up 10.74% to $27.85 in Thursday’s extended trading.
Photo: Shutterstock
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