Shares of Groupon Inc. (GRPN) rose 14 percent in extended hours trading on Wednesday, after it reported a narrower loss for the first quarter, driven by a 7.5 percent growth in revenues.
First-quarter net loss narrowed to $4.0 million or $0.01 per share from $11.7 million or $0.02 per share last year.
Earnings, excluding stock compensation and acquisition-related costs, for the quarter was $0.03 per share. Twenty-three analysts polled by Thomson Reuters expected earnings of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.
Consolidated revenues for the quarter grew 7.5 percent to $601.4 million from $559.3 million last year. Analysts estimated revenues of $588.92 million for the quarter.
Looking forward to the second quarter, Groupon expects revenues of $575 million to $625 million. Analysts currently estimate revenues of $616.14 million.
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