Groupon shares rally 12% on earnings beat
Shares of Groupon Inc. jumped in Thursday's extended session after the company turned in earnings that beat Wall Street's expectations. Groupon reported it swung to a fourth-quarter loss of $46.4 million, or 8 cents a share, from a profit of $8.8 million, or a penny a share, a year ago. On an adjusted basis, the company would have earned 4 cents a share. Revenue grew 3.8% to $917.2 million while gross billings fell 1% to $1.71 billion. Analysts surveyed by FactSet had forecast the daily deals company to break even on revenue of $846 million. For 2016, Groupon forecast revenue in the range of $2.75 billion and $3.05 billion, compared with analysts' average estimate of $2.97 billion. Shares rallied 12% in after-hours trade.
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