Groupon Shares Drop 17% After-Hours Following Earnings
Groupon (NASDAQ: GRPN) reported a Q2 earnings miss following Tuesday's closing bell.
Q2 EPS came in at $0.01 vs. the consensus estimate of $0.03; sales came in at $751.6 million vs. the estimated $762 million.
The company sees Q3 sales of $720 million to $770 million vs. $760 million estimate. It offered non-GAAP EPS outlook of $0.00 to $0.02.
Groupon was recently down 17.6 percent in the after-hours session.
Decelerating top line results also contributed to the massive decline, along with broader market sentiment jitters. According to Groupon, "the second quarter 2014 trailing twelve month billings per average active customer was $137, compared with $132 in the first quarter 2014."
The incremental growth in billings was 3.7 percent per active customers, which may have disappointed, as the outward growth trajectory is heavily dependent on active user growth, rather than booking per active customer metrics.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.