Groupon Q1 2012: Revenue Was $559.3 Million, Up 89%, Operating Income Was $39.6 Million

Posted on May 15 2012 - 4:19am by Editorial Staff

Groupon has announced financial results for the first quarter 2012. Revenue increased 89% to $559.3 million in the first quarter 2012, compared with $295.5 million in the first quarter 2011. Gross billings, which reflects the gross amounts collected from customers for Groupons sold, excluding any applicable taxes and net of estimated refunds, increased 103% to $1.35 billion in the first quarter 2012, compared with $668.2 million in the first quarter 2011.

Operating income was $39.6 million in the first quarter 2012, which includes an expense of $28.0 million related to non-cash stock-based compensation. This compares with a loss from operations of $117.1 million in the first quarter 2011, which included stock-based expense of $18.9 million. Operating cash flow increased 367% to $83.7 million, compared with $17.9 million for the prior-year quarter. Free cash flow, a non-GAAP financial measure, was $70.6 million for the first quarter 2012. At the end of the quarter, Groupon had $1.2 billion in cash and cash equivalents and no long-term debt.

First quarter 2012 net loss attributable to common stockholders improved to $11.7 million, or a loss of $0.02 per share, from a net loss attributable to common stockholders of $146.5 million, or a loss of $0.48 per share, in the first quarter 2011. The net loss in the first quarter 2012 included $34.6 million in tax expense, or $0.05 per share. Non-GAAP earnings per share attributable to common stockholders for the first quarter 2012 improved to $0.02 versus a non-GAAP loss per share attributable to common stockholders of $0.41 for the first quarter 2011.

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