Groupon Is Doing Better
Groupon just released its first earnings report since CEO Andrew Mason was fired. Unlike last time, Groupon actually beat Wall Street expectations this time.
The company reported gross billings of $1.41 billion, revenue of $601.4 million, and GAAP operating income of $21.2 million.
Active customers are up 13% year-over-year.
Eric Lefkofsky, Chairman and co-CEO, said, “We are encouraged by our results, as our local revenues accelerated and our margins improved over the prior quarter. We had record mobile performance as 45% of our North American transactions came from mobile in March, and more than 7 million people downloaded our apps in the quarter.”
Meanwhile the hunt for Mason’s replacement continues.
|Small Business News is brought to you by iEntry, Inc.|