Groupon (NASDAQ: GRPN) shares surged 7.77% in after-hours trading on Wednesday, following the release of its impressive first-quarter financial results that exceeded analyst expectations. The e-commerce marketplace company demonstrated resilience and growth, defying challenges in the current economic landscape.
The company reported quarterly earnings of $0.18 per share, significantly outperforming the analyst consensus estimate of $(0.11). This represents a remarkable 263.64% beat and a 154.55% improvement from the $(0.33) per share loss reported in the same period last year. Groupon's revenue for the quarter came in at $117.2 million, surpassing the analyst consensus estimate of $115.5 million by 1.46%. While this figure represents a 4.79% decrease from the $123.08 million reported in the same quarter last year, it still indicates better-than-expected performance in a challenging market.
Other key financial metrics further underscore Groupon's solid performance. The company reported a gross profit of $106.3 million and adjusted EBITDA of $15.3 million for the quarter. Additionally, Groupon's billings reached $386.5 million, demonstrating continued engagement from its customer base. The strong results across multiple financial indicators likely contributed to investors' positive reaction, as reflected in the after-hours stock price surge.
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