Groupon meets 2Q net income expectations, misses revenue forecasts

MarketsAssociated Press

Groupon Inc. (GRPN) on Friday reported second-quarter net income of $109.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Chicago-based company said it had net income of 16 cents. Earnings, adjusted for one-time gains and costs, were 2 cents per share.

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The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 2 cents per share.

The online daily deal service posted revenue of $738.4 million in the period, which did not meet Street forecasts. Ten analysts surveyed by Zacks expected $753.9 million.

For the current quarter ending in October, Groupon said it expects revenue in the range of $700 million to $750 million. Analysts surveyed by Zacks had expected revenue of $766.6 million.

The company expects full-year revenue in the range of $3.15 billion to $3.3 billion.

The company's shares closed at $4.68. A year ago, they were trading at $6.17.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GRPN at http://www.zacks.com/ap/GRPN

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Keywords: Groupon, Earnings Report