(Updated - August 5, 2014 4:08 PM EDT)

Groupon (Nasdaq: GRPN) reported Q2 EPS of $0.01, in-line with the analyst estimate of $0.01. Revs were $751.6 million, versus expectations of $761.8 million.

Gross billings, which reflect the total dollar value of customer purchases of goods and services, excluding applicable taxes and net of estimated refunds, increased 29% globally to $1.82 billion in the second quarter 2014, compared with $1.41 billion in the second quarter 2013. North America billings increased 12%, EMEA was approximately flat and Rest of World increased 145%, driven by the first-quarter acquisition of Ticket Monster.

For the third quarter 2014, the Company expects revenue of between $720 million and $770 million, Adjusted EBITDA of between $50 million and $70 million, and non-GAAP earnings per share excluding stock compensation, amortization of acquired intangible assets, and acquisition-related expenses, net of tax, of between $0.00 and $0.02.

*** The Street sees Q3 revs of $760.6 million and EPS of $0.03.

Groupon has revised its full year outlook, and now expects Adjusted EBITDA to exceed $270 million. Although the Company has the opportunity to reduce marketing spend over the remainder of the year to achieve a higher target, given recent returns on those investments, it believes it is important to maintain flexibility for investment in long-term growth.

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