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Groupon Q1 revenue surges 7.5%

NEW YORK — Groupon’s quarterly revenue rose a faster-than-expected 7.5 per cent after its North American daily deals business turned in a strong performance, stirring hopes that the struggling company may have begun to turn things around.

Shares in the company, one of the most feted Internet market debutantes of 2011 before daily deals mania cooled, climbed almost 10 per cent in after-hours trade. They have gained about 40 per cent since the February ouster of co-founder and former Chief Executive Andrew Mason, who was criticised for lacking the experience to run an increasingly global, public company.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
A good case study for turning-around story...Big Grin

Groupon sees record profits on shift to mobile

SAN FRANCISCO — Groupon named co-founder Eric Lefkofsky its Chief Executive and reported a record quarter for its North American business, signalling growing momentum in its comeback effort, and its shares rose almost 20 per cent.

The company, which also announced a US$300 million (S$380 million) share repurchase programme yesterday, reported a better-than-expected 7 per cent jump in second-quarter revenue to US$608.7 million, as sales in the United States and Canada climbed 45 per cent.

Mr Lefkofsky, who was named interim CEO in February, has pushed on with his mobile-centric strategy since fellow founder Andrew Mason was replaced in February. The former CEO had presided over a precipitous share price decline to below US$5 from its US$20 debut in 2011.

The stock, which has gained 80 per cent in 2013, rose to US$10.35 in after-hours trade yesterday, its highest since July 2012.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡

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