Groupon Adds 13% After Q1 Results
Groupon (NASDAQ: GRPN) rallied throughout Monday's trading session after an analyst note from Benchmark Co. noted that the daily deals site could rebound from recent losses on the back of Facebook's much anticipated IPO and a strong quarterly earnings report. During the regular trading session, GRPN shares surged 18.54% and closed at $11.73. In the after hours, the stock has added another 13% and was last trading at $13.25 after the company's fiscal Q1 earnings results came in ahead of the Street. Groupon also issued a bullish outlook for the second-quarter.
The Chicago-based company reported non-GAAP earnings per share of $0.02, which came in ahead of Wall Street consensus EPS estimates of $0.01. Revenues for the quarter were $559.3 million, which was well ahead of Street consensus revenue estimates of $530.5 million.
Looking ahead, Groupon is forecasting second-quarter revenue between $550 million to $590 million which compares to current analysts' consensus of $558.7 million. Income from operations for the second-quarter is expected to be between $25 million to $45 million, which compares to current Street estimates of $44.1 million.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.