Groupon Soars On Improved 2016 Revenue Outlook

Shares of Groupon Inc. soared in Wednesday's extended session after the company known for daily deals posted a smaller-than-forecast loss and raised its revenue outlook. Groupon reported it swung to a second-quarter loss of $54.9 million, or 10 cents a share, from a profit of $109.1 million, or 16 cents a share, a year earlier. Excluding charges and items, Groupon would have lost a penny a share. Revenue increased to $756 million versus $738.5 million. Analysts surveyed by FactSet had forecast a loss of 2 cents a share, on an adjusted basis, and revenue of $711 million. Groupon raised its 2016 revenue outlook to a range of $3 billion to $3.1 billion from $2.75 billion to $3.05 billion previously. Groupon surged 25% after hours.