Groupon Inc. (NASDAQ: GRPN) released its second-quarter financial results before the markets opened on Friday. The company said that it had $0.02 in earnings per share (EPS) and $617.4 million in revenue. That compares with consensus estimates of $0.03 in EPS and $632.46 million in revenue, as well as the $0.02 per share and $662.62 million posted in the same period of last year.
North America active customers totaled 32.2 million in the latest period, and international active customers totaled 17.1 million.
The company reported Services revenues of $295.65 million, a decrease of 6.4% year over year. Product revenues decreased 7.2% to $321.74 million.
Looking ahead to the 2018 full year, the company expects to see adjusted EBITDA between $280 million and $290 million. Also excluding any amounts that might be paid related to the IBM litigation, Groupon anticipates generating free cash flow of approximately $200 million. Consensus estimates call for $0.24 in EPS and $2.65 billion in revenue for the year.
Groupon CEO Rich Williams commented:
In the second quarter, we continued our progress and invested in the key things necessary to make Groupon the daily habit in local commerce. With strong Adjusted EBITDA and free cash flow, as well as improvement in International and continued operational efficiency, we enter the second half of 2018 well positioned for success.
Shares of Groupon were last seen down 9% at $4.30 on Friday, with a consensus analyst price target of $5.57 and a 52-week trading range of $3.80 to $5.99.
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