Groupon Inc (NASDAQ: GRPN ) stock was up on Thursday following the release of its earnings report for the first quarter of 2018.
During the first quarter of the year, Groupon Inc reported earnings per share of 3 cents. This is better than its earnings per share of 1 cents from the same period of the year prior. It was also a boon to GRPN stock by beating out Wall Street's earnings per share estimate for the quarter, which was flat.
Groupon Inc notes that it reported a net loss of $2.80 million for the first quarter of 2018. This is much better than the online marketplace company's net loss of $20.38 million that was reported in the first quarter of 2017.
Operating income reported by Groupon Inc for the first quarter of the year came in at $3.39 billion. This is an improvement over the operating loss of $11.68 million that was reported by GRPN for the same time last year.
Groupon Inc's earnings report for the first quarter of 2018 also includes revenue of $626.54 million . The company's revenue from the first quarter of the previous year was $673.63 million. Analysts were expecting the company to report revenue of $603.79 million for the first quarter of the year.
Groupon Inc also made a quick update to its 2018 guidance in its most recent earnings report. The company says it is now expecting Adjusted EBITDA for the period to range from $280 million to $290 million. It's previous Adjusted EBITDA guidance was between $260 million and $270 million. GRPN says that change is due to its acquisition of Vouchercloud and current foreign exchange rates.
GRPN stock was up 5% as of Thursday afternoon.
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As of this writing, William White did not hold a position in any of the aforementioned securities.