Groupon Inc & Agilent Technologies Jumped On Solid Earnings (NASDAQ:GRPN, NYSE:A)
Groupon Inc(NASDAQ:GRPN) soared in the pre-open session as the largest daily coupon website reported a smaller net loss and higher revenue in the first quarter, boosted by increased demand from a growing customer base.
The company posted net loss of $11.7 million, or 2 cents per share, in the January-March period, narrow than a year ago loss of $146.5 million, or 48 cents per share. On an adjusted basis, the company would have earned 2 cents per share in the latest quarter, matching Wall Street’s estimates.
Revenue during the quarter came at $559.3 million, Up 89% from a year ago revenue of $295.5 million, well ahead of analysts’ forecast of $530.5 million. Groupon itself had forecast revenue of $510 million to $550 million.
Groupon ended the quarter with 36.9 million active customers, up from 15.4 million at the end of the prior-year’s first quarter. Often criticized for its spending to acquire new subscribers, Groupon said it added roughly the same number of customers as it did in the fourth quarter but spent 25 percent less on marketing.
Shares of GRPN had been one of the flop IPOs after the tech bubbles in 2001, as the stock tumbled over 50% from its debut on the stock market. The recent sell was largely due to mounting losses, accounting errors and regulatory missteps.
Shares of GRPN are up 26% to $14.75 in the pre-market session. Yesterday, the stock closed higher by 18.54% at $11.73 in anticipation of strong earnings.
Agilent Technologies Inc.(NYSE:A) shares also rose after the company reported a 285 jump in its second-quarter profit and lifted its adjusted earnings guidance for the year.
The company now expects to earn $3.18 to $3.24 a share on revenue of $6.94 billion to $7 billion, compared to its earlier guidance of $3.13 to $3.23 and $6.92 billion to $7.02 billion, respectively.
For the latest quarter, the company earned $255 million, or 72 cents a share, up from a year ago profit of $200 million, or 56 cents a share. On an adjusted basis, the company earned 78 cents. Revenue during the quarter improved 3.3% to $1.73 billion.
In February, the company predicted adjusted earnings of 71 cents to 73 cents a share on $1.7 billion to $1.72 billion in revenue.
Shares of Agilent are up 3.21% in the pre-market session.