UPDATE: Groupon (GRPN) Tops Q4 EPS by 2c; Issues Weak Q1 Outlook

February 20, 2014 4:03 PM EST
(Updated - February 20, 2014 4:16 PM EST)

Groupon (NASDAQ: GRPN) reported Q4 EPS of $0.04, $0.02 better than the analyst estimate of $0.02. Revenue for the quarter came in at $768.4 million versus the consensus estimate of $718.04 million.

Our record performance in the quarter was led by strength in Goods, as shoppers increasingly looked to Groupon to fill their holiday needs,” said Eric Lefkofsky, CEO of Groupon. “Our mobile business continued to gain momentum as our worldwide mobile transaction mix increased more than 10% in the quarter, to nearly 50% in December. With another 9 million downloads this quarter, we now have nearly 70 million app downloads to date.”

Adjusted EBITDA, a non-GAAP financial measure, was $72.0 million in the fourth quarter 2013, compared with $29.7 million in the fourth quarter 2012.

-- Active deals: At the end of the fourth quarter 2013, on average, active deals in North America were approximately 80,000, compared with more than 65,000 at the end of the third quarter 2013. Globally, active deals exceeded 140,000 at the end of the fourth quarter 2013.
-- Active customers: Active customers, or customers that have purchased a voucher or product within the last twelve months, grew 9% year-over-year, to 44.9 million as of December 31, 2013, comprising 20.8 million in North America, 14.2 million in EMEA, and 9.9 million in Rest of World.
-- Customer spend: Fourth quarter 2013 trailing twelve month billings per average active customer was $134, compared with $137 in the third quarter 2013.
-- Mobile: In December 2013, nearly 50% of global transactions were completed on mobile devices. Nearly 70 million people have now downloaded Groupon mobile apps worldwide, with approximately 9 million people downloading them in the fourth quarter alone.

Sees Q1 2014 EPS of ($0.04)-($0.02), versus the consensus of $0.06. Also sees Q1 2014 revenue of $710-760 million, versus the consensus of $668.61 million.

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


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