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Groupon earnings (NASDAQ: GRPN ) were unveiled late in the day on Tuesday, sending GRPN stock sinking after hours as the company's adjusted profit came in 3 cents per share below what the Wall Street consensus estimate called for, while its revenue fell year-over-year.
Groupon added that for the period, it posted adjusted profit of $60 million, or 10 cents per share, marking a 43.9% increase when compared to the $41.7 million, or 7 cents per share from the year-ago quarter. Analysts were calling for the company to bring in adjusted earnings of 13 cents per share, according to a guidance compiled from a FactSet survey.
The company also posted revenue of $799.9 million for the period, marking an 8% decline compared to the year-ago quarter due to "lower customer traffic and our continued focus on revenue generation that maximizes long-term gross profit," according to its earnings report. Wall Street called for revenue of $783 million, per FactSet.
GRPN stock was gaining about 5.6% during regular trading hours as the company geared up to report for its latest quarter of its fiscal 2018. Shares then fell roughly 12.4% after the bell as the company's earnings were below what Wall Street was calling for, although revenue did come in ahead of the mark.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
