Shares in daily-deal site Groupon (GRPN) rose 4% after-hours on Tuesday after the company reported earning results that surpassed the Street’s very low expectations.Specifically, first quarter non-GAAP EPS of -$1.63 beat Street estimates by $0.28 while revenue of $374.15M beats by $22.45M. Nonetheless revenue still plunged 35.3% year-over-year, while GAAP EPS of -$7.53 fell short of Street expectations by $4.11.Total Gross Billings of $526.66M also represented a significant year-over-year drop of 31.5%, while gross profit was $201.2 million in the first quarter 2020, down 34%.“COVID-19 has had a major impact on our business and we have moved quickly to position …read more
Source:: Yahoo Finance
