Groupon (NASDAQ:GRPN) stock was down on Friday following the release of its earnings report for the second quarter of 2018.
Groupon’s earnings report for the second quarter of the year includes earnings per share of 2 cents. This is the same as the company’s earnings per share from its second quarter of 2017. Unfortunately for GRPN stock, this is below Wall Street’s earnings per share estimate of 3 cents for the period.
Net loss reported by Groupon for the second quarter of 2018 came in at $92.25 million. The e-commerce company reported a net loss of $6.78 million in the same period of the year prior.
During the second quarter of the year, Groupon reported an operating loss of $64.25 million. This is a drop from the company’s operating loss of $7.40 million from the second quarter of the previous year.
Groupon’s revenue of $617.40 million for the second quarter of 2018 was also a blow to GRPN stock today. It’s down from the company’s revenue of $662.62 million that was reported in the same period of the year prior. GRPN’s revenue for the quarter also couldn’t match analysts’ revenue estimate of $632.46 million.
Groupon says that its outlook for the full year of 2018 includes Adjusted EBITDA ranging from $280 million and $290 million. The company also notes that it is expecting cash flow for the year to be $200 million. This excludes any amount paid to IBM (NYSE:IBM) over the lawsuit between the two companies.
GRPN stock was down 2% as of Friday morning and is down 9% as of Friday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.