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Groupon misses estimates in its second-quarter results, reaffirms its full-year guidance

Last updated: 23:45 03 Aug 2018 AEST, First published: 23:16 03 Aug 2018 AEST

Groupon site on a laptop
The e-commerce company recently lost a patent dispute with IBM and will have to pay out US$83mln

Groupon Inc (NASDAQ:GRPN) announced disappointing second-quarter results Friday morning, seeing its loss widen but reaffirming its full-year outlook.

The online discounter reported a net loss of US$0.17 per share on revenue of US$617.4mln compared with a net loss of US$0.02 on revenue of US$662.6mln in the previous year’s second quarter.

The Chicago-based company fell below Wall Street estimates of a net loss of US$0.03 per share on revenue of $632.46mln.

Shares of the company fell more than 7% to US$4.40 in Friday pre-market trading.

Groupon connects businesses and consumers via coupons and other deals, offering goods and services at a discount on its online marketplace.

For the full year, the company reiterated its adjusted EBITDA to be between US$280mln and U$290mln.

The e-commerce company recently lost a patent dispute with IBM Corp (NYSE:IBM) after continuing to use its technology unauthorized following a two-week trial. Groupon will have to pay out US$83mln as a result.

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