Groupon Stock Skyrockets As Revenue Grows
Shares of Groupon Inc. soared 14% Wednesday after the company reported stronger-than-expected quarterly earnings. The daily-deals site reported a loss of $50.2 million, or 9 cents a share, compared with a loss of $32.6 million, or 8 cents a share, in the year-earlier period. Excluding one-time items, Groupon reported non-GAAP earnings of 7 cents a share, topping the 3-cent profit analysts on average had been expecting, according to FactSet. Revenue rose to $934.9 million from $917.2 million in the year-earlier period, beating the Street's view of $913 million. Shares of Groupon rocketed 14.3% higher to $4.32 in premarket trade. As of Tuesday's close, they had been down 6% in the past three months, underperforming the S&P 500 , up more than 7%.
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