Groupon Reports First Quarter 2024 Results

Rhea-AI Summary

Groupon, Inc. (NASDAQ: GRPN) reported first quarter 2024 results, with Dusan Senkypl named permanent CEO. The company exceeded guidance, showing consolidated revenue growth for the first time since 2016. North America segment revenues excluding Goods category grew by 8% compared to the prior year.

Positive

• Exceeded high-end of guidance for first quarter results

• Consolidated revenue growth for the first time since 2016

• North America segment revenues grew 8% compared to prior year

• CEO confident in restarting growth and achieving mission

Negative

• None.

Dusan Senkypl named permanent Chief Executive Officer

First Quarter results above the high-end of guidance

Reports consolidated revenue growth for the first time since 2016

Excluding Goods category, North America segment revenues grew 8% compared to prior year

Chicago, Illinois--(Newsfile Corp. - May 9, 2024) - Groupon, Inc. (NASDAQ: GRPN) today announced its financial results for the first quarter ended March 31, 2024. The company filed its Form 10-Q with the Securities and Exchange Commission and posted an updated presentation on its investor relations website (investor.groupon.com).

"We had a solid start to the year with our business returning to revenue growth. You need to travel back 8 years to 2016 to find the last time that Groupon grew revenue on a consolidated basis," said Dusan Senkypl, Chief Executive Officer of Groupon. "Our business is back on its feet and momentum is in the right direction, but not yet firing on all cylinders. I am confident we can restart the engines of growth and realize our mission to become the ultimate destination for local experiences and services."

The first quarter 2024 earnings materials are posted on Groupon's Investor Relations site located at investor.groupon.com.

About Groupon

Groupon (www.groupon.com) (NASDAQ: GRPN) is a trusted local marketplace where consumers go to buy services and experiences that make life more interesting and deliver boundless value. To find out more about Groupon, please visit press.groupon.com.

Contacts:

Investor Relations
ir@groupon.com

Public Relations
press@groupon.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208619

FAQ

Who was named permanent Chief Executive Officer of Groupon?

Dusan Senkypl was named permanent Chief Executive Officer of Groupon.

What was the first quarter revenue growth reported by Groupon?

Groupon reported consolidated revenue growth for the first time since 2016.

How much did North America segment revenues grow compared to the prior year?

North America segment revenues excluding Goods category grew by 8% compared to the prior year.