Groupon (GRPN) Tops Q3 EPS by 1c; Guides Higher, Acquires LivingSocial
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Groupon (NASDAQ: GRPN) reported Q3 EPS of ($0.01), $0.01 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $720.5 million versus the consensus estimate of $710.47 million.
Gross Billings were $1.43 billion in the third quarter 2016, down 2% from $1.47 billion in the third quarter 2015.
On October 24, 2016, Groupon entered into an agreement to acquire all of the outstanding shares of LivingSocial, Inc. The acquisition is expected to close by early November 2016, subject to satisfaction of customary closing conditions. The acquisition consideration is not material.
Groupon sees FY2016 revenue of $3.075-3.15 billion, versus the consensus of $3.1 billion.
"Our strategy continues to deliver results with double-digit growth in North America local billings and our highest quarter for customer acquisition in over three years,” said Groupon CEO Rich Williams. “We are looking forward to a strong finish to the year and further progress on our mission to make Groupon a daily habit for consumers.”
For earnings history and earnings-related data on Groupon (GRPN) click here.
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