Investing.com - Groupon Inc (NASDAQ:GRPN) has regrouped from earlier losses, which followed the release of the company’s second quarter results which topped analysts' expectations for earnings, but revenue fell short of estimates.
Groupon released its second quarter results before the opening bell, and in the pre-market session, shares were indicated down about 4.5%. However; as the session opened Groupon’s stock has actually experienced a great deal of upside. Shares were recently up nearly 9%.
On an adjusted basis the company had per-share earnings of 2 cents versus analysts estimates for a breakeven result. Revenue fell to $662.6 million from $723.8 million in the comparable period and missed the consensus analyst estimate of $669 million.
The company maintained its full-year gross profit of $1.30 billion to $1.35 billion.
Groupon recently announced a partnership with GrubHub Inc (NYSE:GRUB). Under the arrangement, Groupon users will be able to order food from GrubHub's restaurant partners through the Groupon platform and they will be able to redeem deals when they order from GrubHub through Groupon. Analysts have cheered the arrangement, saying it is a “win-win” situation that will benefit both companies.