Groupon Shares Sinks 11% on Q1 Miss and Disappointing Guidance
2022.05.10 00:12
Groupon Shares Sinks 11% on Q1 Miss and Disappointing Guidance
Groupon (NASDAQ:GRPN) shares dropped more than 11% after-hours following the company’s reported Q1 results, with EPS of ($0.80) coming in worse than the consensus estimate. Revenue declined 42% year-over-year to $153.3 million, missing the consensus estimate of $165.81 million.
North America revenue declined 25% year-over-year to $110.2 million, mainly due to lower gross billings in Local and Goods categories. International revenue declined 63% year-over-year to $43.2 million, mainly due to the transition of Goods to a third-party marketplace model (revenue recognized on a net basis vs. gross basis for first-party model), as well as due to lower Goods gross billings, partially offset by an increase in Local gross billings and improved customer refund levels.
The company expects Q2/22 revenue in the range of $155-165 million, compared to the consensus estimate of $202.4 million. For the full 2022-year, the company expects revenue of $670-700 million, compared to the consensus estimate of $837.08 million.
By Davit Kirakosyan
