Groupon (NASDAQ:GRPN) earnings for the e-commerce company’s fiscal first quarter of 2020 have GRPN stock soaring higher after markets closed on Tuesday. That’s thanks to its adjusted losses per share of $1.63, which is better than Wall Street’s estimate of -$1.91 per share. Its revenue of $374.15 million is also above analysts’ estimates of $369.14 million.
Now, let’s take a more in-depth look at the most recent Groupon earnings report.
- Adjusted per-share losses are a negative switch from adjusted EPS of 60 cents during the fiscal first quarter of 2019.
- Revenue is sitting 35% lower than the $578.41 million reported during the same period of the year prior.
- Operating loss of $197.86 million is much worse year-over-year than an operating income of $2.2 million.
- The Groupon earnings also have it reporting a net loss of $210.48 million.
- That’s 439.6% wider than its net loss of $39.01 million from the same time last year.
Aaron Cooper, interim CEO of Groupon, said this about the fiscal Q1 results.
“COVID-19 has had a major impact on our business and we have moved quickly to position Groupon to weather the pandemic and to help our merchants face these unprecedented challenges. At the same time, during the first half of 2020, we created a more agile organization that is focused on improving the long-term health of our marketplace.”
Groupon doesn’t provide specific details about what it expects in the fiscal second quarter of 2020. However, the company does say it is recovering from the novel coronavirus faster than it expected.
GRPN stock was up 2.8% after-hours Tuesday and closed out the day up 12.7%
As of this writing, William White did not hold a position in any of the aforementioned securities.