LOOKING BACK
In the previously reported third quarter, Groupon reported a jump in earnings of 8 cents a share from nil profit a year ago. This came about due to a benefit related to the IBM settlement as well as lower costs and expenses. The bottom line surpassed analysts’ expectations, sending the stock higher following the announcement.
Revenue for the third quarter then dropped by 7% on lower customer traffic, falling short of consensus estimates.
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Gross billings also shot down 9.3% to $1.22 billion in the past quarter, while active customers on the site slipped to 48.8 million from 49.1 million during the prior-year period.
Back then, Groupon announced that it expected FY 2018 adjusted EBITDA to be $280-290 million.
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