2.2800 -0.77 (-25.25%)
After hours: 7:59PM EST
|Bid||2.3100 x 1300|
|Ask||2.3200 x 28000|
|Day's Range||2.8300 - 3.0850|
|52 Week Range||2.1700 - 3.8200|
|Beta (5Y Monthly)||1.16|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 27, 2020 - May 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.25|
(GRPN) shares plunged 25% in late trading Tuesday after the e-commerce company posted disappointing financial results, announced plans to divest part of its business, and disclosed plans for a reverse stock split. “We did not deliver the financial performance we expected during the fourth quarter and we recognize we must move swiftly to put Groupon back on a growth trajectory,” Groupon CEO Rich Williams said in a statement.
Groupon Inc. shares were down 25% in extended trading Tuesday after the online marketplace reported disappointing fourth-quarter revenue and said it planned to exit the Goods category so it can focus on the $1 trillion "local experiences" market. The company also named Melissa Thomas its chief financial officer, and said it plans to pursue a reverse-stock split to boost the price of its stock. Groupon reported net income of $77 million, or 13 cents a share, in the quarter, compared with net income of $46.2 million, or 8 cents a share, in the year-ago fourth quarter. Revenue plunged 23% to $612.3 million from $799.9 million a year ago. Analysts surveyed by FactSet had expected earnings of 12 cents a share on sales of $705 million. Groupon shares are down 13% over the last 12 months. The S&P 500 index has gained 21% ocer the past year.
After reporting disappointing fourth quarter and full-year financials, Groupon said a new business strategy is essential to reignite growth.
(Bloomberg) -- Groupon Inc. plummeted as much as 26% in late trading after delivering worse-than-expected results and announcing plans to stop selling goods -- a retreat for a company that once aspired to be a major shopping service.Earnings declined to 7 cents a share last quarter, excluding some items, Groupon said on Tuesday. That missed even the most pessimistic Wall Street estimate. Sales also fell dramatically short of projections.The stock tumbled as low as $2.26 in extended trading after the results were posted. The shares had been up 28% this year through Tuesday’s close, with investors betting that Groupon could mount a comeback.Groupon Goods, an e-commerce site for for products like phone charges and coats, was an attempt to attract new customers and decrease the company’s reliance on its core business -- selling daily deals and other discounts. But the business’s contribution to profit has been declining for four quarters, and consumers have lost interest, Groupon said. That’s why it plans to phase out the program this year.“Goods has outlived its role as a business driver and has become a significant drag on our business,” Chief Executive Officer Rich Williams said in a letter to shareholders.Groupon’s turnaround plan now hinges on relaunching the brand and kicking off a new marketing strategy, Williams said. The hope is to shift away from offering deals and be known as a marketplace where consumers can find local experiences.The goal is “being top of mind when our customers are looking for the best things to do around them, when they need something to do with their kids on the weekend or for when they’re planning date night,” he said.Groupon also named two new board members: Valerie Mosley, CEO of Valmo Ventures LLC, and Helen Vaid, Pizza Hut’s chief customer officer. And it appointed interim Chief Financial Officer Melissa Thomas to the job permanently. And the board is proposing a reverse stock split at a ratio of between 1-for-10 and 1-for-12.To contact the reporter on this story: Nick Turner in Los Angeles at email@example.comTo contact the editor responsible for this story: Nick Turner at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Groupon Inc (NASDAQ: GRPN) reported fourth-quarter earnings of 7 cents per share Tuesday, missing the analyst consensus estimate of 15 cents by 53.33%. The e-commerce platform reported quarterly sales of $612.3 million, missing the analyst consensus estimate of $709.35 million by 13.68%. Groupon's board has approved a reverse stock split at a ratio between 1-for-10 and 1-for-12, the company said.
Groupon has added Valerie Mosley and Helen Vaid to the company's Board of Directors and named Melissa Thomas as Chief Financial Officer.
Most parents haven't been on a date since 2017, according to a new Valentine's Day survey from local experiences marketplace Groupon.
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Groupon, Inc. (NASDAQ:GRPN) shareholders should be happy to see the share price up 27% in the last month. But that is...
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The filing said MIG may “from time to time engage in discussions with management and the board of directors,” and could make proposals on the “capitalization, ownership structure, board composition or operations” of the company, and could buy more shares. Merage is seeking a seat on Groupon’s board. “Groupon has been in dialogue with MIG Capital and is aware of its interest in having Richard Merage, Portfolio Manager and CEO of MIG, join the Groupon Board of Directors,” the company said in a statement.
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