2023-08-09 16:50:58 ET
Groupon ( NASDAQ: GRPN ) rose 3.8% post-market on Wednesday after the company beat estimates.
For the second quarter, the company reported non-GAAP EPS of -$0.10, which beat the average analyst estimate by $0.10. Revenue of $129.1M beat by $5.82M.
"After completing the first quarter as interim CEO, I have better visibility into how much work is waiting ahead and, at the same time, I can see that we are on the right path towards a successful transformation of the company," interim Chief Executive Officer Dusan Senkypl said in a statement.
"While progress is not always linear and our business continues to be challenged, I am pleased to see sequential improvement in our financial performance.”
The company said it expects to see continued year-over-year revenue declines throughout 2023, though there have been “improvements” in the rate of decline during the second quarter, earlier than anticipated.
In North America, active customers totaled 10.6 million as of June 30, down 3% sequentially and 19% compared from a year earlier. International active customers totaled 6.9 million as of June 30, down 6% sequentially and 14% compared a year ago.
GRPN is down 37% over the past 12 months.
More on Groupon:
- Groupon Non-GAAP EPS of -$0.10 beats by $0.10, revenue of $129.1M beats by $5.82M
- Groupon, Inc. ( GRPN ) Q1 2023 Earnings Call Transcript
- Groupon's Revolving Door: A Risky Investment Proposition
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Groupon rises as quarterly results beat expectations