Groupon Reports Third Quarter 2024 Results
Rhea-AI Summary
Groupon (NASDAQ: GRPN) reported Q3 2024 results with revenue at the low-end of guidance, while EBITDA exceeded the high-end of guidance. The company's International Local revenue declined 13%, though excluding Italy, the decline was to 2%. Notable achievements include completing the rollout of their new front-end platform across 100% of North America mobile web and desktop traffic. The company also announced a $197 million financing transaction. Management expressed optimism about the company's transformation progress, highlighting positive responses to new features like gifting and video content.
Positive
- EBITDA performance exceeded high-end of guidance
- International Local revenue decline (ex-Italy) to 2%
- Completed platform modernization across North American digital channels
- Secured $197 million financing
Negative
- Revenue at low-end of guidance range
- International Local revenue declined 13%
News Market Reaction 1 Alert
On the day this news was published, GRPN declined 27.03%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Third Quarter revenue at the low-end of guidance and EBITDA above the high-end of guidance
International Local revenue declined
Announces
Chicago, Illinois--(Newsfile Corp. - November 12, 2024) - Groupon, Inc. (NASDAQ: GRPN) today announced its financial results for the third quarter ended September 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).
"Despite some challenges, I'm optimistic about our future. The progress we've made in transforming our platform and enhancing our customer experience is laying the groundwork for sustainable growth," said Dusan Senkypl, Chief Executive Officer of Groupon. "Our International Local business is showing promising signs, and the positive response to our new features like gifting and video content reinforces our belief that we're on the right path. We've seen significant progress in marketplace understanding and in how we operate our sales channels. We're committed to continuous improvement and innovation, and I believe the best is yet to come for our company."
The third 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/229638
FAQ
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