Last $6.97 USD
Change Today +0.02 / 0.29%
Volume 9.5M
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As of 8:10 PM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

groupon inc (GRPN) Key Developments

Groupon Announces Integration with Apple Pay

Groupon announced its integration with Apple Pay, a new mobile payments service that will provide an easy, secure and private way to make purchases from the Groupon app on iPhone 6 and iPhone 6 Plus. Groupon is one of the first mobile commerce companies to announce integration with Apple Pay, and the new payment option will be available to customers beginning in October. Groupon's integration with Apple Pay allows customers to seamlessly check out with a single touch and pay using Touch ID from their iPhone 6 or iPhone 6 Plus. It also allows new customers to create user accounts and make purchases on the fly with just a few taps. Groupon's consistently top-rated iOS app is one of the 25 most-downloaded free apps in the App Store. Groupon's updated app will launch alongside Apple Pay in October.

Judge Refuses to Grant Class-Action Status to Lawsuit on Groupon over its Alleged Failure to Pay Overtime Wages

A judge refused to grant class-action status to a lawsuit that Groupon faces over its alleged failure to pay overtime wages to workers. U.S. District Judge Edmond Chang reportedly ruled that claims from about 1,500 sales representatives are too disparate for a class-action lawsuit. He also told the plaintiffs to propose a narrower class by September 23.

Groupon, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter of Fiscal Year 2014; Revises Earnings Guidance for the Full Year 2014

Groupon, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, total revenue was $751,576,000 against $608,747,000 a year ago. Loss from operations was $7,854,000 against profit from operations of $27,412,000 a year ago. Loss before provision from income taxes was $8,877,000 against profit before provision from income taxes $21,833,000 a year ago. Net loss attributable to the company was $22,875,000 or 0.03 per basic and diluted share against $7,574,000 or 0.01 per basic and diluted share a year ago. Adjusted EBITDA was $59,056, 000 against $80,511,000 a year ago, primarily due to an approximately $30 million increase in SG&A related to TMON and ideeli. Non-GAAP earnings per share were $0.01. Net cash used in operating activities was $22,747,000 against net cash generated from operating activities of $43,302,000 a year ago. Negative free cash flow was $53,800,000 against free cash flow of $29,260,000 a year ago. Free cash flow in the quarter was impacted by payment timing, as well as a few key strategic investments, including the shutdown of Groupon Korea. The company reported a bigger loss in its second quarter, weighed down by acquisition-related costs and other one-time expenses. For the six months, total revenue was $1,509,213,000 against $1,210,149,000 a year ago. Loss from operations was $27,807,000 against profit from operations of $48,590,000 a year ago. Loss before provision from income taxes was $29,670,000 against profit before provision from income taxes $37,928,000 a year ago. Net loss attributable to the company was $60,670,000 or 0.09 per basic and diluted share against $11,566,000 or 0.02 per basic and diluted share a year ago. Net cash used in operating activities was $43,464,000 against net cash generated from operating activities of $52,062,000 a year ago. For the third quarter 2014, the company expects revenue of between $720 million and $770 million, Adjusted EBITDA of between $50 million and $70 million, and non-GAAP earnings per share excluding stock compensation, amortization of acquired intangible assets, and acquisition-related expenses, net of tax, of between $0.00 and $0.02. The company revised its full year outlook, and now expects Adjusted EBITDA to exceed $270 million. Although the company has the opportunity to reduce marketing spend over the remainder of the year to achieve a higher target, given recent returns on those investments, it believes it is important to maintain flexibility for investment in long-term growth.

Groupon Appoints Parker Barrile Senior Vice President of Product

Groupon announced Parker Barrile as its Senior Vice President of Product. He will lead Groupon's global product teams focused on web, mobile and design. He will lead Groupon's global Product teams focused on web, mobile and design. Barrile joins Groupon from LinkedIn where he was VP of Product Management and led teams for several of the company's core monetization products including Talent Solutions, Premium Subscriptions and the Payments Platform.

Groupon, Inc., Q2 2014 Earnings Call, Aug 05, 2014

Groupon, Inc., Q2 2014 Earnings Call, Aug 05, 2014

 

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