Groupon up 23% on Strong Q1 Results

Groupon Inc

is trading higher pre-market following its Q1 earnings announcement yesterday after the close. The company reported an EPS of $0.02 vs $0.01 estimates and revenues of $559.3 million vs $530.58 million estimates. Groupon also guided Q2 revenue $550-590 million vs $559 million estimates. Andrew Mason, CEO of Groupon stated: “We are pleased to report a record quarter that demonstrates our progress in unlocking the opportunity in local commerce for merchants and customers worldwide." Groupon is currently trading at $14.40, a gain of $2.67 or 22.71%.