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Technology Stocks : Groupon, Inc.
GRPN 5.86+0.9%5:20 PM ESTNews

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From: Glenn Petersen10/26/2016 6:28:57 PM
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Groupon Slides 7% on Q3 Profit Loss, Global Units Sold Down 5%

Zacks
Wednesday, October 15, 2016

Groupon Inc. GRPN just released its third quarter fiscal 2016 financial results, posting earnings of a loss of 6 cents per share and revenue of $720.5 million. GRPN is a Zacks Rank #1 (Strong Buy), and is down roughly 7% to $4.92 per share in after-hours trading shortly after its earnings report was released

Beat earnings estimates. The company reported earnings of a loss of 6 cents per share, beating the Zacks Consensus Estimate of a loss of 8 cents per share. This number excludes a penny from non-recurring items.

Beat revenue estimates. The company saw revenue figures of $720.5 million, surpassing our consensus estimate of $708 million and increasing 1% from the prior year period. North America revenue increased 4%, EMEA declined 1% and Rest of World declined 19%.

Global units sold declined 5% year-over-year to 49 million, primarily driven by country exits and our restructuring efforts in international segments. Units in North America increased 4%, EMEA units declined 8%, and Rest of World units declined 31%.

Looking ahead, Groupon is raising its revenue guidance range to between $3.075 billion to $3.150 billion for 2016, but narrowing its expected 2016 Adjusted EBITDA range to between $150.0 million and $165.0 million.

"Our strategy continues to deliver results with double-digit growth in North Americalocal billings and our highest quarter for customer acquisition in over three years," said Groupon CEO Rich Williams. "We are looking forward to a strong finish to the year and further progress on our mission to make Groupon a daily habit for consumers."

finance.yahoo.com
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