Groupon Struggles To Boost Global Sales Despite US Gains; Stock Tumbles
Portfolio Pulse from Lekha Gupta
Groupon, Inc. (NASDAQ:GRPN) reported a mixed second-quarter FY24 performance with a 3% Y/Y revenue decline to $124.6 million, beating expectations. North America revenue rose 3% Y/Y, while international revenue fell 21% Y/Y. Adjusted EBITDA increased to $16.5 million, but adjusted EPS loss of $0.02 missed estimates. The stock is down 17.4% Y/Y.
July 31, 2024 | 11:24 am
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Groupon reported a mixed Q2 FY24 with a 3% Y/Y revenue decline to $124.6 million, beating expectations. North America revenue rose 3% Y/Y, while international revenue fell 21% Y/Y. Adjusted EBITDA increased to $16.5 million, but adjusted EPS loss of $0.02 missed estimates. The stock is down 17.4% Y/Y.
Despite beating revenue expectations, Groupon's overall revenue declined by 3% Y/Y, and the adjusted EPS loss missed estimates. The significant decline in international revenue and the mixed results have led to a 17.4% Y/Y drop in the stock price, indicating negative short-term sentiment.
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