Groupon (GRPN) Tops Q1 EPS by 2c, Revenue Misses

Groupon (NASDAQ: GRPN) reported Q1 EPS of $0.01, $0.02 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $673.6 million versus the consensus estimate of $724.96 million.

• Adjusted EBITDA of $44.8 million
• Added 500 thousand net new customers in North America, bringing North America active customers to 31.6 million; global active customers reached 48.3 million

“In the first quarter, we continued to make solid progress in our mission to be the daily habit in local commerce,” said CEO Rich Williams. “Our focus on growing customers in our marketplace, significantly improving the customer experience and continuing to streamline and simplify our business helped drive a 42 percent year-over-year increase in Adjusted EBITDA and gross profit of $309 million for the quarter.”

Outlook

Groupon is reiterating its outlook for 2017, which reflects current foreign exchange rates, as well as expected marketing investments and cost benefits associated with our streamlining initiatives. The basis for our full year 2017 guidance is continuing operations.

• For the full year 2017, Groupon expects gross profit to be in the range of $1.30 billion to $1.35 billion.
• Groupon expects Adjusted EBITDA to be in the range of $200 million to $240 million in 2017.

(Updated)

For earnings history and earnings-related data on Groupon (GRPN) click here.

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