Groupon (NASDAQ: GRPN) shares surged 11.90% in intraday trading on Thursday, building on the momentum from Wednesday's after-hours gains following the release of its exceptional first-quarter financial results. The e-commerce marketplace company's performance significantly exceeded analyst expectations, signaling a potential turnaround for the once-struggling business.
The company reported quarterly earnings of $0.18 per share, marking a remarkable turnaround from the $0.33 loss per share in the same period last year and outperforming the analyst consensus estimate of a $0.11 loss by an impressive 263.64%. Groupon's revenue came in at $117.2 million, surpassing the analyst forecast of $115.5 million by 1.46%, despite representing a slight decrease from the previous year.
Other key financial metrics further underscored Groupon's solid performance. The company reported a gross profit of $106.3 million and adjusted EBITDA of $15.3 million for the quarter. Additionally, Groupon's billings reached $386.5 million, demonstrating continued engagement from its customer base. These strong results across multiple financial indicators have likely fueled investor optimism, contributing to the significant stock price surge on Thursday.
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