Groupon (NASDAQ:GRPN) saw its shares soar 7.77% in after-hours trading on Wednesday following the release of its first-quarter earnings report, which significantly exceeded analyst expectations. The company's strong performance across key financial metrics suggests a potential turnaround for the once-struggling e-commerce marketplace.

The Chicago-based company reported quarterly earnings of $0.18 per share, marking a dramatic improvement from the $0.33 loss per share in the same period last year and beating 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 4.79% decrease from the $123.08 million reported in the previous year.

Other notable figures from the earnings report include a gross profit of $106.3 million and adjusted EBITDA of $15.3 million. The company also reported billings of $386.5 million for the quarter. While Groupon has faced challenges in recent years due to changing consumer behavior and increased competition, these results indicate that the company's efforts to streamline operations and focus on high-value customers may be starting to pay off.