Feeds

IT'S ALIVE: Groupon stock up, spreadsheets still soaked in red

Sales better than expected at web deals bazaar

Top 5 reasons to deploy VMware with Tegile

Groupon shares rallied in after-hours trading last night, jumping at least 10 per cent - after the daily deals site announced a better-than-expected rise in revenue.

The voucher bazaar is still making a loss, however.

Investors have been more optimistic about the site's stocks since co-founder and chief Andrew Mason was ousted in February, pushing the share price up around 40 per cent, and that cautious optimism has been validated by a lift of 7.5 per cent in revenue to $601.4m, more than the $590m forecast by analysts polled by Thomson Reuters Institutional Brokers' Estimate System.

Mason had been on his last legs at the firm for a while, as critics wondered if he had the necessary experience to run a major public company, particularly one that has seen its main revenue stream - discount coupons - falter in popularity. Groupon has attempted to bolster its earnings by shifting into discounted products through its Goods division.

The voucher site has been having problems on a number of fronts, including falling international business, retention of merchant partners for its coupons and the cost of attracting new customers. However, it has managed to reduce its net losses to $3.99m for the three months to March from $11.69m in the same quarter last year.

Despite the signs that the firm may not be as totally and utterly doomed as it was, Groupon continues to lose top executives, including its head of Goods just yesterday. The site is also on the lookout for a new chief exec, a job executive chairman Eric Lefkofsky and vice chair Ted Leonsis have taken on for now.

Leonsis said in a conference call that the board had formed a special committee to start searching for the next Groupon head, but didn't say anything about who might be interested in the job. ®

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.