Groupon (GRPN) Misses Q2 EPS by 1c; Guides Q3 EPS Below Expectations

August 7, 2015 7:31 AM EDT

Groupon (NASDAQ: GRPN) reported Q2 EPS of $0.02, $0.01 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $738.4 million versus the consensus estimate of $740.37 million.

Gross billings, which reflect the total dollar value of customer purchases of goods and services, increased to $1.53 billion in the second quarter 2015, compared with $1.50 billion in the second quarter 2014. Gross billings grew 2% globally, or 10% excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter. On this F/X neutral basis, North America billings increased 12%, EMEA increased 9% and Rest of World increased 6%.

Highlights

  • Units: Global units, defined as vouchers and products sold before cancellations and refunds, increased 7% year-over-year to 53 million in the second quarter 2015. North America units increased 9%, EMEA units increased 10% and Rest of World units declined 3%.
  • Active deals: At the end of the second quarter 2015, on average, active deals were nearly 510,000 globally, with approximately 240,000 in North America. Both include the addition of approximately 75,000 Coupons.
  • Active customers: Active customers, or customers that have purchased a voucher or product within the last twelve months, grew 6% year-over-year, to 48.6 million as of June 30, 2015, comprising 24.9 million in North America, 15.5 million in EMEA, and 8.2 million in Rest of World.
  • Customer spend: Second quarter 2015 trailing twelve month billings per average active customer was $133, compared with $136 in the second quarter 2014.

Guidance:

Groupon sees Q3 2015 EPS of $0.00-$0.02, versus the consensus of $0.03. Groupon sees Q3 2015 revenue of $700-750 million, versus the consensus of $755.9 million.

Groupon sees FY2015 revenue of $3.15-3.30 billion, versus the consensus of $3.21 billion.

For earnings history and earnings-related data on Groupon (GRPN) click here.



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