Reuters: Global Markets: Groupon reports first quarterly net profit

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Groupon reports first quarterly net profit May 14th 2012, 20:20 Tweet Share this Email Print Related News Nvidia revenue, outlook beat Street; shares jump Fri, May 11 2012 Cisco outlook underwhelms, economy fears persist Wed, May 9 2012 Activision stems Warcraft bleeding, eyes holiday Wed, May 9 2012 OfficeMax profit beats estimates; shares rise Tue, May 8 2012 BroadSoft outlook disappoints; shares fall Mon, May 7 2012 Analysis & Opinion Essential reading: Mall landlords battle tax, Groupon shifts board amid accounting issues, and more Related Topics Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Hot Stocks » Asian Markets » Inflows Outflows » People enter and leave Groupon Inc corporate office and headquarters in Chicago, Illinois, November 4, 2011. Credit: Reuters/Frank Polich By Alistair Barr SAN FRANCISCO | Mon May 14, 2012 4:40pm EDT SAN FRANCISCO (Reuters) - Groupon Inc posted its first quarterly profit as the world's largest daily deal company reined in marketing spending while signing up more customers and merchants, sending its stock 11 percent higher. The daily deals company started by music graduate Andrew Mason said it now had 36.9 million active customers, and surpassed 100,000 merchants served in the first quarter. The after-hours rally to about $13.17 followed a gain of more than 18 percent in regular trading on Nasdaq, its largest single-day gain since it went public in November. "Revenue came in much higher than expected and margins were higher," said Sameet Sinha, an analyst at B. Riley & Co. "The domestic side of Groupon's business did well," he added. "They may be doing a better job of marketing or their new businesses may be gaining traction." Groupon's operating profit margin was 7 percent in the first quarter, while Wall Street was looking for a 6.5 percent margin, Sinha noted. First-quarter pro-forma net income, which excludes option expenses, was 2 cents per share, versus a net loss of 41 cents a share, a year earlier. Revenue was $559.3 million, compared with $295.5 million in the first quarter 2011. Groupon was expected to make 1 cent per share in pro-forma first-quarter earnings, according to Thomson Reuters I/B/E/S. Net revenue was forecast to be $531 million. (Reporting by Alistair Barr; Editing by Richard Chang) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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