Groupon Inc. (NASDAQ:GRPN) reversed to a profit in the third quarter, beating Wall Street estimates.
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Groupon Inc. Earnings Cheat Sheet
Results: Reported a profit of $1.6 million (0 cents per diluted share) in the quarter. Groupon Inc. had a net loss of $10.6 million or a loss 18 cents per share in the year-earlier quarter.
Revenue: Rose 32.2% to $568.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Groupon Inc. beat the mean analyst estimate of a loss of one cent per share. It beat the average revenue estimate of $530.8 million.
Quoting Management: “Our solid performance in North America was offset by continued challenges in Europe,” said Andrew Mason, CEO of Groupon. “Groupon Goods has evolved into a second major category that our customers clearly love. With deals on everything from designer sunglasses to big-screen televisions to most-wanted toys, we think it will be a great gifting destination this holiday season.”
For three consecutive quarters, the company has topped analyst estimates. It beat the mark by 6 cents in the second quarter and by 2 cents in the first quarter.
At a profit of 2 cents per share, the average estimate for the fiscal year has risen from an expected loss of 2 cents ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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