logo
Plus   Neg
Share
Email

Stock Alert: Groupon Gains 35% Following Quarterly Earnings

Shares of e-commerce marketplace Groupon, Inc. (GRPN) are surging more than 35% Friday morning on better-than-expected second-quarter results.

The company reported quarterly adjusted loss per diluted share of $0.93, beating the average estimate of analysts polled by Thomson Reuters for $2.75 loss per share.

Revenue was $395.6 million in the second quarter 2020, down 26% from last year.

"In the past four months, we have created significant operating leverage by taking substantial costs out of our business, leaned into categories to drive sales
and free cash flow, and steadied the company during the pandemic,"said Aaron Cooper, Interim CEO of Groupon.

GRPN is currently trading at $22.87. It has traded in the range of $9.60- $63.20 in the last one year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Santa Cruz Bicycles LLC has recalled certain model year 2020 bicycles with aluminum frames citing fall risks, according to the U.S. Consumer Product Safety Commission. The recall involves about 2,900 units of model year 2020 Auminum Santa Cruz and Juliana Bicycles. In addition, about 216 were sold in Canada. AstraZeneca is mulling an additional global trial to confirm the 90% efficacy rate of its Covid-19 vaccine candidate at lower dosage, Bloomberg news quoted Chief Executive Officer Pascal Soriot as saying. In an interview, Soriot noted that instead of adding the trial to an ongoing U.S. process, the company might launch a fresh study to evaluate efficacy of lower dosage of its vaccine that perform U.S. airline Delta Air Lines, Inc. and its Italian codeshare partner Alitalia are planning to launch quarantine-free, COVID-free flights between U.S. and Europe through new testing protocols, starting in December. In a statement, Delta said it has signed deals with airports and governments eliminating quarantine requirements on COVID-tested flights connecting Atlanta and Rome.
Follow RTT