Groupon Beats Second Quarter Revenue Estimates And Makes Founder Eric Lefkofsky Permanent CEO

Groupon is making co-founder, and acting CEO Eric Lefkofsky the permanent CEO, the company just announced.

It also reported better than expected revenue.

Here are the numbers:

• Revenue: $608 million versus an expected $606 million
• EPS: $0.02 versus $0.02
• Operating income: $27.4 million
• Cash: $1.2 billion

Groupon also announced that its board of directors authorized a share repurchase program. As part of the program, Groupon is able to buy back up to $300 million of its Class A common stock over the next two years.

The stock is up 13% after hours.

More to come...