Groupon (GRPN) Tops Q1 EPS by 2c

May 5, 2015 4:08 PM EDT

Groupon (NASDAQ: GRPN) reported Q1 EPS of $0.03, $0.02 better than the analyst estimate of $0.01. Revenue for the quarter came in at $750.4 million versus the consensus estimate of $822.8 million.

Gross billings, which reflect the total dollar value of customer purchases of goods and services, increased to $1.6 billion in the first quarter 2015, compared with $1.5 billion in the first quarter 2014. Gross billings grew 10% globally, 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 14%, EMEA increased 7% and Rest of World declined 1%. Including the $117.7 million unfavorable impact from foreign exchange, billings increased 2% compared with first quarter 2014.

Outlook
For the second quarter 2015, reflecting current foreign exchange rates and the exclusion of Ticket Monster, Groupon expects revenue of between $700 million and $750 million. This guidance anticipates approximately 800 basis points of unfavorable impact on the year-over-year growth rate from changes in foreign exchange rates.

Based on current foreign exchange rates, Groupon expects Adjusted EBITDA for the second quarter 2015 of between $55 million and $75 million, and non-GAAP earnings per share from continuing operations of between $0.01 and $0.03.

For the full year 2015, based on current foreign exchange rates and the exclusion of Ticket Monster, Groupon expects revenue of between $3.15 billion and $3.3 billion. This guidance anticipates approximately 700 basis points of unfavorable impact on the year-over-year growth rate from changes in foreign exchange rates.

In addition, based on current foreign exchange rates, Groupon continues to expect Adjusted EBITDA for the full year 2015 of greater than $315 million.

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



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