<p>Groupon’s (NASDAQ: GRPN) earnings for the e-commerce company’s fiscal policy first quarter 2020, the GRPN share has risen higher after closed markets on Tuesday. This is thanks to its adjusted earnings per share of $ 1.63, which is better than the Wall Street estimate – $ 1.91 per share. Its revenue of $ 374.15 million is also higher than analysts’ estimates of $ 369.14 million.
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Let us now take a closer look at the latest Groupon earnings report.
Adjusted losses per share are a negative change from adjusted earnings per share of 60 cents during the fiscal first quarter of 2019. Revenue is 35% lower than MUSD 578.41 reported during the same period last year. The operating profit of $ 197.86 million is much worse than the year before than an operating profit of $ 2.2 million. Groupon’s earnings also report a net loss of $ 210.48 million. That is 439.6% wider than the net loss of $ 39.01 million from the same time last year.
Aaron Cooper, interim CEO of Groupon, said this about the fiscal results for the first quarter.
“COVID-19 has had a major impact on our business and we have moved quickly to positioning Groupon to cope with the pandemic and to help our traders meet these unrivaled challenges. At the same time, during the first half of 2020, we created a more flexible organization that is focused on improving the long-term health of our marketplace. ”
Groupon does not provide specific details on what they expect during the second quarter of 2020. However, the company says that it is recovering from the new coronavirus faster than expected.
GRPN shares rose 2.8% after hours on Tuesday and closed the day up 12.7%
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/06/groupon-earnings-boost-grpn-stock/.
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