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Investing

Groupon Has Impressive October Results–Yipit

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By Douglas A. McIntyre Published
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The head of Groupon (NASDAQ: GRPN) said the company’s recent performance was strong. He spoke at the end of the firm’s IPO silent period, which drove shares 6% higher yesterday

Now there is independent confirmation of his comments. Online research firm Yibit reports that

October’s Yipit Data Report reveals Groupon grew 22% in the first month of its fourth quarter, primarily driven by the company’s travel product, Groupon Getaways, which experienced over 150% of gross billings growth.

Wall St. has savaged Groupon and drove shares below $17, about half of its 52-week high. Investors have been concerned that competition from Google (NASDAQ: GOOG) and direct rival Living Social would hurt results. There has also been concerned that traditional e-commerce sites like Amazon.com (NASDAQ: AMZN) and Walmart.com (NYSE: WMT) has the brands and marketing power to strike into the online instant coupon business.

Groupon has been criticized for its high costs of services. If it can continue to post results like October, those concerns may melt away

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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