Groupon beats by $0.01, beats on revs; raises FY16 rev, Adj-EBITDA guidance :
- Reports Q2 (Jun) loss of $0.01 per share, $0.01 better than the Capital IQ Consensus of ($0.02); revenues rose 2.4% year/year to $756.03 mln vs the $710.94 mln Capital IQ Consensus.
- Gross Billings were $1.49 billion in the second quarter 2016, down 2% from $1.53 billion in the second quarter 2015, with no significant impact of changes in foreign exchange rates. Gross billings were impacted by dispositions and country exits in connection with restructuring.
- North America Local Billings accelerated to 9% year-over-year growth as we began to see the contribution of new customer cohorts acquired from our marketing investments and initiatives. Customer acquisition marketing yielded an incremental 1.1 million active customers in North America, as compared with the prior quarter, which is the highest acquisition in over two years. North America had 27.9 million active customers as of June 30, 2016.
- Co raises guidance for FY16, sees FY16 revs of $3.0-3.10 bln (Prior $2.75-3.05 bln) vs. $3.02 bln Capital IQ Consensus Estimate; sees Adj-EBITDA of $140-165 mln (Prior $85-135 mln)
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