Groupon Beats In Q1 With $757.6M In Revenue, Non-GAAP EPS Of -$0.01

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“I Flew Coach Here” Is The New “I Woke Up Like This”

After the bell today Groupon reported its first quarter financial performance, including revenue of $757.60 million, and non-GAAP earnings per share of -$0.01. Analysts had expected for the company to earn -$0.03 per share (non-GAAP) on revenue of $740 million.

On a GAAP basis, Groupon lost $37.8 million, or $0.06 per share. The company’s adjusted EBITDA for the quarter totaled $40.3 million.

In regular trading, Groupon fell under 3% in down day for the market. After reporting its earnings beat, Groupon is up just under 4%. Just kidding, Groupon is now down over 3%. Investors are having a hard time making up their minds at its results.

Today’s earnings come on the heels of its last quarter’s massive post-report swing. Groupon shot north more than 10 percent after reporting better-than-expected results, but an anemic profit forecast for the calendar year sent it down more than 10 percent quickly. It was one of the more impressive whipsaws I’ve ever seen in a public company.

Unit volume in the first quarter was up 85% year-over-year to 84 million, while gross billings totaled $1.82 billion the quarter, up 29% from the year-ago period. The company saw 54% of its deals kick-in from mobile customers.

The company ended the period with cash and equivalents of $1.0 billion.

Speaking simply, Groupon posted revenue growth, billings growth, user growth (+24% yearly actives since year-ago period), and so forth. Groupon has plenty of cash to boot. Still, investors seem somewhat skittish about either its inability to post a real profit for now, or its long-term growth potential. More shortly.

What’s interesting is that Groupon in fact raised its guidance today: “Groupon is increasing its full year outlook, and now expects Adjusted EBITDA to exceed $300 million.” That said, raising a non-GAAP figure is only so impressive. Following its poorly received growth projections detailed in the fourth quarter of 2013, perhaps this was adjustment too little.

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