Groupon is soaring after its revenue beat
The company announced revenue of $934.9 million, which was ahead of the $912.8 million that analysts were anticipating.
However, Groupon lost $0.09 per share, missing the $0.02 loss that was expected. On an adjusted basis, Groupon earned $0.07 per share.
The company said it added around 5 million customers in its core US market and now has 31.2 million customers in North America and 52.7 million customers globally.
Groupon expects to exit 11 countries as part of its streamline and simplify initiative, and the company expects to report these countries as discontinued operations beginning in first quarter 2017.
For the full year 2017, Groupon expects gross profit to be in the range of $1.30 billion and $1.35 billion, an increase of $40 to $90 million compared to full-year 2016 results.
Groupon also expects Adjusted EBITDA to be in the range of $200 million and $240 million, an increase of $16 to $56 million compared to full-year 2016 results.
