Groupon (NASDAQ:GRPN) earnings for the e-commerce company’s third quarter of 2019 have GRPN stock falling hard on Monday. This is due to its adjusted earnings per share of one penny on revenue of $495.61 million. These are both below Wall Street’s estimates of 3 cents per share and $525.43 million.
Let’s take a look at what went wrong in the most recent Groupon earnings report.
- Adjusted EPS is down 75% from 4 cents in the third quarter of 2018.
- Revenue comes in 16.41% lower YoY than $592.88 million.
- Income from operations for the quarter is sitting at $4.64 million.
- This is a 91.25% drop from its operating income of $53.02 million reported during the same time last year.
- The Groupon earnings report also has the company switching to a net loss from a net profit in the same period of the year prior.
Rich Williams, CEO of Groupon, has this to say about the Q3 GRPN stock earnings.
“While we continue to face challenges from traffic and International macroeconomic conditions, we believe we have the right strategy in place to deliver on the promise of our marketplace. As we enter the holiday season, we look forward to bringing exciting experiences to our millions of customers around the world.”
Groupon will be holding a conference call tomorrow to go over the results of its earnings report. The conference call will take place at 10:00 a.m. Eastern Time and will be available through its investor website.
GRPN stock was down 9.33% in after-hours trading on Monday. The stock closed out the day up 4.53%.
As of this writing, William White did not hold a position in any of the aforementioned securities.