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GROUPON SURGES AFTER EARNINGS

Sam RoFeb 21, 2014, 02:35 IST

GrouponHK on Facebook

Groupon shares spiked after the company published its Q4 financial results.

Adjusted for nonrecurring items, the company earned $0.04 per share. This was stronger than the $0.02 expected by analysts.

Revenue of $768.4 million crushed expectations for $718.0 million.

The stock is up by $13% in after-hours trading.

"Our record performance in the quarter was led by strength in Goods, as shoppers increasingly looked to Groupon to fill their holiday needs," said CEO Eric Lefkofsky. "Our mobile business continued to gain momentum as our worldwide mobile transaction mix increased more than 10% in the quarter, to nearly 50% in December. With another 9 million downloads this quarter, we now have nearly 70 million app downloads to date."

More to come....