Groupon Inc. (GRPN) reported that its second-quarter net income attributable to common stockholders was $28.4 million, or $0.04 per share, compared to a net loss of $107.4 million, or a loss per share of $0.35 in the second quarter 2011.
The Second quarter 2012 results included a $33.0 million net gain from non-recurring items, comprised of a $56.0 million non-operating gain and $23.0 million of tax expense.
Non-GAAP earnings attributable to common stockholders for the second quarter 2012 was $53.8 million, or $0.08 per share, compared to a net loss of $68.7 million, or loss per share of $0.23 in the second quarter 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.03 per share on revenues of $573.13 million for the quarter. Analysts' estimates typically exclude special items.
Revenue increased 45% year-over-year to $568.3 million in the second quarter 2012, compared with $392.6 million in the second quarter 2011. Excluding the $32.4 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, revenue growth would have been 53% compared with second quarter 2011.
Revenue for the third quarter 2012 is expected to be between $580 million and $620 million, an increase of between 35% and 44% compared with the third quarter 2011. Analysts expect the company to report revenues of $604.49 million for the third-quarter.
Income from operations for the third quarter 2012 is expected to be between $15 million and $35 million, compared with a loss from operations of $0.2 million in the third quarter 2011. This outlook includes approximately $30 million of stock-based compensation.
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