What: Shares of Groupon (GRPN 6.01%) have skyrocketed today, up by 26% as of 11:54 a.m. ET, after the company reported a fourth quarter that beat analyst expectations.
So what: Revenue in the fourth quarter added up to $917.2 million, with gross billings of $1.7 billion. Adjusted earnings per share were $0.04. Both top- and bottom-line results were ahead of Groupon's own guidance as well as consensus estimates. Analysts were expecting Groupon to report an adjusted net loss of $0.05 per share. Global units were flat in the fourth quarter at 62 million.
Now what: Active customers increased modestly to 48.9 million, most of which are in North America. CEO Rich Williams said the company continues to move away from low-margin products and is optimistic about the year ahead. Outlook for 2016 expects margins to rise and Groupon is shifting its focus away from international markets. Revenue for this year should be in the range of $2.75 billion to $3.05 billion.
