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Why Groupon Inc Stock Is Higher Today

Groupon Inc (NASDAQ:GRPN) stock was up on Thursday following the release of its earnings report for the first quarter of 2018.

Why Groupon Inc Stock Is Higher Today

Source: Shutterstock

During the first quarter of the year, Groupon Inc reported earnings per share of 3 cents. This is better than its earnings per share of 1 cents from the same period of the year prior. It was also a boon to GRPN stock by beating out Wall Street’s earnings per share estimate for the quarter, which was flat.

Groupon Inc notes that it reported a net loss of $2.80 million for the first quarter of 2018. This is much better than the online marketplace company’s net loss of $20.38 million that was reported in the first quarter of 2017.

Operating income reported by Groupon Inc for the first quarter of the year came in at $3.39 billion. This is an improvement over the operating loss of $11.68 million that was reported by GRPN  for the same time last year.

Groupon Inc’s earnings report for the first quarter of 2018 also includes revenue of $626.54 million. The company’s revenue from the first quarter of the previous year was $673.63 million. Analysts were expecting the company to report revenue of $603.79 million for the first quarter of the year.

Groupon Inc also made a quick update to its 2018 guidance in its most recent earnings report. The company says it is now expecting Adjusted EBITDA for the period to range from $280 million to $290 million. It’s previous Adjusted EBITDA guidance was between $260 million and $270 million. GRPN says that change is due to its acquisition of Vouchercloud and current foreign exchange rates.

GRPN stock was up 5% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/groupon-inc-stock-up-on-earnings/.

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