Shares of Groupon (NASDAQ: GRPN) have popped today, up by 15% as of 3 p.m. EST, after the company reported fourth-quarter earnings. The results topped expectations, and Groupon continued to make steady progress in its business model transition.
Revenue in the fourth quarter was $343.1 million, comfortably above the consensus estimate of $304.1 million in sales. That resulted in net income of $15.1 million, or $0.51 per share, also topping the Street's forecast of $0.27 per share in profits. The e-commerce technology company has been in the process of shifting to a third-party (3P) model, which will have implications on how it recognizes revenue.
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Why Groupon Stock Popped on Friday