Groupon: raises 2018 outlook; shares jump
(CercleFinance.com) - Daily deal website Groupon on Wednesday reported a narrower loss for the first quarter, raised its guidance for 2018 and launched a 300-million-dollar share buyback.
The group's net loss from continuing operations was 2.8 million dollars in the first quarter compared to a net loss of 20.9 million dollars in the first quarter of 2017.
First-quarter revenue fell 7% to 626.5 million, reflecting the group's focus on businesses that maximise gross profit.
Due to the Vouchercloud acquisition, Groupon raised its outlook for 2018: the Chicago-based company now expects adjusted EBITDA to be between 280 million dollars and 290 million dollars this year, an increase from a previous range of between 260 million and 270 million dollars.
In addition, Groupon said its board of directors has approved a 300-million-euro share repurchase authorisation, which replaces a recently expired programme.
Investors cheered the news. The Nasdaq-listed share was up 12% at 5.4 dollars in early-morning trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group's net loss from continuing operations was 2.8 million dollars in the first quarter compared to a net loss of 20.9 million dollars in the first quarter of 2017.
First-quarter revenue fell 7% to 626.5 million, reflecting the group's focus on businesses that maximise gross profit.
Due to the Vouchercloud acquisition, Groupon raised its outlook for 2018: the Chicago-based company now expects adjusted EBITDA to be between 280 million dollars and 290 million dollars this year, an increase from a previous range of between 260 million and 270 million dollars.
In addition, Groupon said its board of directors has approved a 300-million-euro share repurchase authorisation, which replaces a recently expired programme.
Investors cheered the news. The Nasdaq-listed share was up 12% at 5.4 dollars in early-morning trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.