UPDATE: Groupon (GRPN) Posts Q4 GAAP Loss of 12c/Share; Guides Q1 Revs Below Views

February 27, 2013 4:06 PM EST
(Updated - February 27, 2013 4:59 PM EST)

Groupon (Nasdaq: GRPN) reported Q4 adjusted loss $0.05 per share, versus the analyst estimate of $0.03. Revenue for the quarter came in at $638.3 million versus the consensus estimate of $638.41 million.

*** Fourth quarter GAAP loss per share of $0.12, including $0.07 loss per share from a non-operating item, compared with a loss per share of $0.12 in fourth quarter 2011.

The company said that "gross billings, which reflect the total dollar value of customer purchases of goods and services, excluding any applicable taxes and net of estimated refunds, increased 24 percent year-over-year to $1.52 billion" in the quarter.

Consolidated units, defined as vouchers and products ordered before cancellations and refunds, grew 21 percent year-over-year, helping Groupon top the 50 million unit milestone for the first time in its history.

The number of active deals in North America improved about 300 percent to 37,000 deals.

Marketing expense per new customer improved 61 percent.

Looking ahead, Groupon sees Q1 2013 revenue of $560-610 million, versus the consensus of $650.29 million.

Operating (loss) income for the first quarter 2013 is expected to be between $(10) million and $10 million, compared with $39.6 million in the first quarter 2012. This outlook includes $30 million of stock-based compensation, and assumes no acquisitions or investments, or material changes in foreign exchange rates.

For the full year 2013, operating income is expected to increase compared with 2012.

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


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