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Groupon -12.5% as revenues shrink and miss expectations

Published 05/03/2017, 11:08 AM
© Reuters.  Groupon -12.5% as revenues shrink and miss expectations
GRPN
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  • Groupon (NASDAQ:GRPN) is 12.5% lower after posting Q1 earnings showed revenues declined and missed as a drop in Goods sales weighed on results.
  • Gross profit declined 3.3% to $309.5M. EBITDA of $44.8M beat an expected $38.1M.
  • Gross billings were $1.36B (down 1% Y/Y): $779M in Local (up 5.3%); $167.3M in Travel (up 0.1%); $411.7M in Goods (down 11.1%).
  • Revenue breakout: Third-party and other, $301.6M (down 2.6%); direct, $372M (down 4.3%).
  • Revenue by category: Local, $264.1M (up 1.2%); Travel, $31.5M (down 5.7%); Goods, $378M (down 6.4%).
  • It reiterated its full-year outlook for gross profit of $1.3B-$1.35B, and EBITDA of $200M-$240M (vs. consensus for $217.4M).
  • Press Release
  • Now read: Care.com, Inc. 2017 Q1 - Results - Earnings Call Slides


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