Groupon (NASDAQ: GRPN) shares are experiencing a significant pre-market surge of 12.01% on Thursday, following the release of the company's impressive first-quarter financial results. The e-commerce marketplace company's performance has substantially exceeded analyst expectations, potentially signaling a turnaround for the business that has faced challenges in recent years.
The 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. This result outperformed 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 underscore 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 in pre-market trading.
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