Plus   Neg

Groupon Q3 Profit Misses Estimates; Shares Plunge

Groupon, Inc. (GRPN) reported third-quarter non-GAAP net income per share of $0.01 compared to $0.04, prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.03, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $50.0 million, down from $56.4 million, a year ago.

Third-quarter revenue was $495.6 million, down 16 percent (15 percent FX-neutral) from prior year. Analysts expected revenue of $525.43 million, for the quarter. Global units sold were down 9 percent to 35.8 million largely driven by fewer customers and lower traffic.

For the full year 2019, Groupon continues to project adjusted EBITDA of approximately $270 million.

Shares of Groupon were down nearly 10% after hours.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
NBCUniversal unveiled Peacock, a free premium ad-supported streaming service with subscription tiers offering more than 600 movies and 400 series. Peacock will be available on April 15 for Comcast's Xfinity X1 and Flex customers and on July 15 for the rest of the country. NBC is offering Peacock... The number of Amazon Prime members in the U.S. is growing slowly, but steadily, a recent study has shown. According to the survey by the Consumer Intelligence Research Partners, LLC or CIRP, the number of Amazon Prime members in the U.S. is estimated to have risen to 112 million in December 2019 from just over 100 million in the same period of the prior year. Medical device manufacturer Cardinal Health will soon recall certain Level 3 surgical gowns or PreSource procedural packs that contain these gowns following warning that they may not be sterile, the U.S. Food and Drug Administration said in a statement. The health regulator said it is working with the company to find out the specific product lots that are impacted.
Follow RTT