Groupon Reports Second Quarter 2024 Results
Rhea-AI Summary
Groupon (NASDAQ: GRPN) reported its Q2 2024 financial results, highlighting positive developments in key areas. The company saw a 7% growth in North America Local revenues compared to the previous year. Groupon achieved positive operating cash flow of $15 million and Free Cash Flow of $11 million for the quarter. On a trailing twelve-month basis, operating cash flow reached $46 million with Free Cash Flow of $30 million. Notably, Q2 revenue exceeded the high-end of guidance.
CEO Dusan Senkypl expressed confidence in the company's transformation, despite ongoing challenges such as site reliability. He emphasized Groupon's mission to become the ultimate destination for local experiences and services.
Positive
- 7% growth in North America Local revenues year-over-year
- Positive Q2 operating cash flow of $15 million
- Positive Q2 Free Cash Flow of $11 million
- Trailing twelve-month operating cash flow of $46 million
- Trailing twelve-month Free Cash Flow of $30 million
- Q2 revenue exceeded the high-end of guidance
Negative
- Ongoing challenges with site reliability
News Market Reaction 1 Alert
On the day this news was published, GRPN declined 15.21%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
North America Local revenues grew
Positive Second Quarter operating cash flow of
Positive Trailing twelve month operating cash flow of
Second Quarter revenue above the high-end of guidance
Chicago, Illinois--(Newsfile Corp. - July 30, 2024) - Groupon, Inc. (NASDAQ: GRPN) today announced its financial results for the second quarter ended June 30, 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).
"Our financial results, with positive Free Cash Flow and growing North America Local sales, are significantly improved compared to where we were one year ago," said Dusan Senkypl, Chief Executive Officer of Groupon. "While our transformation still faces numerous challenges, including site reliability, 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 second 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218284
FAQ
What was Groupon's (GRPN) North America Local revenue growth in Q2 2024?
How much operating cash flow did Groupon (GRPN) generate in Q2 2024?
What was Groupon's (GRPN) Free Cash Flow for Q2 2024?
How did Groupon's (GRPN) Q2 2024 revenue perform against guidance?
