Groupon Surges 17% On Strong Q2 Earnings Beat

E-commerce marketplace company Groupon GRPN reported second-quarter financial results after hours Thursday.

Here’s what the company had to say about its second quarter and what's ahead.

What Happened: Groupon reported second-quarter revenue of $266 million, down 33% year-over-year. The revenue figure beat the Street consensus of $242.5 million. Local billings grew 22% versus the first quarter.

Groupon reported adjusted earnings per share of 33 cents, coming in well ahead of the 3-cent loss per share expected by analysts.

The company ended the quarter with 15.2 million active customers in North America. Groupon said its North American customer totals are stable. International customers of 9.7 million in the second quarter were down from 10.6 million reported in the first quarter.

Groupon said it made progress on its two strategic priorities of expanding inventory and modernizing our marketplace in the second quarter.

Groupon is guiding for full-year revenue in a range of $950 million to $990 million.

GRPN Price Action: Groupon shares are up 17% to $41.75 in after-hours trading.

Photo: Rusty Clark, Flickr