Groupon Plunges After First Earnings Release As A Public Company
Daily deals juggernaut Groupon (NASDAQ: GRPN) released its fiscal Q4 earnings results on Wednesday afternoon after the closing bell. The company, which went public in November 2012, reported a loss of $0.02 per share. This compared to Wall Street consensus EPS estimates which called for a profit of $0.03.
Revenue at Groupon (GRPN) for the quarter came in at $506 million, which exceeded Street consensus of $473 million.
For the current quarter, GRPN sees revenue between $510 million and $550 million compared to current consensus of $501 million.
While the top-line figures were very strong, the EPS miss combined with what could be construed as slightly disappointing Q1 revenue guidance has caused the stock to plunge around 11% in Wednesday's after hours session to $22.10.
In Q1, Groupon guided for revenues to be between $9 million and $49 million above Street consensus. While this type of guide would be very bullish for most company's stocks, it looks like investors were looking for even more upside given Groupon's staggering historical growth metrics.
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