This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-22457980
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Groupon results better than expected | |
| (about 20 hours later) | |
| Daily deals firm Groupon has reported first-quarter results ahead of market expectations. | Daily deals firm Groupon has reported first-quarter results ahead of market expectations. |
| Revenues in the first three months of the year came in at $601.4m (£387m), up 7.5% on a year ago. Analysts had forecast revenues of $590m. | Revenues in the first three months of the year came in at $601.4m (£387m), up 7.5% on a year ago. Analysts had forecast revenues of $590m. |
| Groupon's net loss narrowed to $3.24m from $3.59m a year earlier. Shares in the company surged 12% to $6.26 in extended trading in New York. | Groupon's net loss narrowed to $3.24m from $3.59m a year earlier. Shares in the company surged 12% to $6.26 in extended trading in New York. |
| Co-chief executive Eric Lefkofsky said he was "encouraged" by the results. | Co-chief executive Eric Lefkofsky said he was "encouraged" by the results. |
| Mr Lefkofsky and Ted Leonsis were named as temporary joint chief executives at the end of February when founder Andrew Mason was ousted after the group posted another quarterly loss. | Mr Lefkofsky and Ted Leonsis were named as temporary joint chief executives at the end of February when founder Andrew Mason was ousted after the group posted another quarterly loss. |
| Groupon's shares have lost around three-quarters of their value since floating at $20 per share in November 2011, on concerns that its business model offering bulk discount deals may be unsustainable. | Groupon's shares have lost around three-quarters of their value since floating at $20 per share in November 2011, on concerns that its business model offering bulk discount deals may be unsustainable. |
| Many investors have been concerned for some time that Groupon's customers are tiring of the deals it offers, and that it is facing more competition from other start-ups and from big firms such as Amazon and Google, who have been copying its strategy. | Many investors have been concerned for some time that Groupon's customers are tiring of the deals it offers, and that it is facing more competition from other start-ups and from big firms such as Amazon and Google, who have been copying its strategy. |
| Improved margins | Improved margins |
| In its latest results, there was a clear difference between the company's performance in North America and in the rest of the world. | In its latest results, there was a clear difference between the company's performance in North America and in the rest of the world. |
| North America revenues increased 42.3%, while international revenues fell 18.4%. | North America revenues increased 42.3%, while international revenues fell 18.4%. |
| "We are encouraged by our results, as our local revenues accelerated and our margins improved over the prior quarter," said Mr Lefkofsky. | "We are encouraged by our results, as our local revenues accelerated and our margins improved over the prior quarter," said Mr Lefkofsky. |
| "We had record mobile performance as 45% of our North American transactions came from mobile in March, and more than seven million people downloaded our apps in the quarter." | "We had record mobile performance as 45% of our North American transactions came from mobile in March, and more than seven million people downloaded our apps in the quarter." |
| Mr Lefkofsky and Mr Leonsis have been trying to turn around Groupon's struggling European business while continuing to expand in the US. | Mr Lefkofsky and Mr Leonsis have been trying to turn around Groupon's struggling European business while continuing to expand in the US. |
| Analysts expect a slimmed-down company under the new leadership, as the firm continues to hunt for a permanent chief executive. | Analysts expect a slimmed-down company under the new leadership, as the firm continues to hunt for a permanent chief executive. |