Groupon: raises full-year outlook; shares shine.
(CercleFinance.com) - Groupon shares jumped over 3% in early morning trading on Wednesday, after the US company raised its 2017 guidance because of strong demand in its core local business and voucherless products like Groupon+.
Adjusted EBITDA, a non-GAAP financial measure, rose to 46.6 million dollars in Q3, up 43% from 32.6 million dollars a year ago, while gross billings increased by 1% to 1.34 billion dollars.
"We delivered another solid quarter while continuing to invest in the growth and development of our local marketplace," said CEO Rich Williams.
Groupon raised its expected adjusted EBITDA guidance range for 2017 to between 225 million dollars and 245 million dollars, pushing the shares up 3.5% at 4.9 dollars shortly after Wall Street opened.
Groupon also announced that Steve Krenzer - most recently the CEO of online direct-response advertising company Core Digital Media - would join the company as chief operating officer, effective immediately.
Meanwhile, Deborah Wahl - who previously served as chief marketing officer at McDonald's, USA - will join Groupon's board of directors.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Adjusted EBITDA, a non-GAAP financial measure, rose to 46.6 million dollars in Q3, up 43% from 32.6 million dollars a year ago, while gross billings increased by 1% to 1.34 billion dollars.
"We delivered another solid quarter while continuing to invest in the growth and development of our local marketplace," said CEO Rich Williams.
Groupon raised its expected adjusted EBITDA guidance range for 2017 to between 225 million dollars and 245 million dollars, pushing the shares up 3.5% at 4.9 dollars shortly after Wall Street opened.
Groupon also announced that Steve Krenzer - most recently the CEO of online direct-response advertising company Core Digital Media - would join the company as chief operating officer, effective immediately.
Meanwhile, Deborah Wahl - who previously served as chief marketing officer at McDonald's, USA - will join Groupon's board of directors.
Copyright (c) 2017 CercleFinance.com. All rights reserved.