Q2: Groupon reported better than expected
group buying service Groupon today named Eric Lefkovski its new CEO. In his new position he will have a lot of work to revive the old turnover of the company, and restore the confidence of investors. Lefkovski itself is one of the co-founders of the company, as well as its largest shareholder with a stake of 17%. After the announcement of the new general director of the company's securities have increased in price by more than 19%. Today, the New York-based company reported on the results of the second quarter, showing a 7.1% rise in quarterly sales to 608.7 million dollars, which is also a net loss of $ 7.57 million dollars, which is better than expected.
Recall that Groupon company underwent the IPO in November 2011 and since then the company's capitalization has shrunk by 87%, but it began to rise again since the spring of this year, announced the resignation of CEO Andrew Mason Groupon, as well as the fact that a new temporary CEO of Ted Leonsis said the company is moving toward mobile development. Analysts had expected the second quarter Groupon will show a net loss of 3 cents a share, while in reality was shown a loss of 1 cent per share. A year earlier, Groupon reported net income of $ 28.4 million dollars, or 4 cents a share on sales of 568.3 million dollars.
Also in the company's report states that the total amount of the invoice issued by the company to customers amounted to 1.41 billion dollars, which is 9.9% more than in the same period a year earlier. According to the forecasts of the company in the third quarter, Groupon expects sales between 585-635 million, versus the estimate at 621.5 million dollars. From the company's report also shows that international sales have decreased: in the EMEA region by 24%, and the rest of the region by 26%.
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