Groupon Q1 Earnings Beat Wall Street View

(RTTNews) - Groupon, Inc. (GRPN) Tuesday reported first-quarter net loss of $42.5 million or $0.07 per share, wider than last year's loss of $6.9 million or $0.01 per share.

Adjusted profit was $16.7 million or $0.03 per share, compared to $16.2 million or $0.03 per share last year. Analysts polled by Thomson Reuters estimated earnings to be break-even per share for the quarter.

Revenues for the quarter were $578.4 million, down 8% from last year's revenues of $626.5 million, reflecting lower customer traffic. Analysts had a consensus revenue estimate of $552.81 million.

Looking forward to the full year 2019, Groupon continues to expect adjusted EBITDA to be $270 million.

"In the first quarter we made solid progress on our strategy and initiatives to improve the customer experience, expand our platform, grow our international business and continue our focus on operational rigor," said CEO Rich Williams.