Pursuits
Groupon Surges After Revenue Beats Estimates on Mobile Gains
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Groupon Inc. shares jumped the most in more than two months after the daily deal website’s first-quarter revenue surpassed analysts’ estimates, buoyed by increased coupon sales through its mobile applications.
Sales rose 7.5 percent to $601.4 million, the Chicago-based company said yesterday in a statement. Analysts on average projected $591 million, according to data compiled by Bloomberg. The net loss narrowed to $3.99 million, or 1 cent a share, from $11.7 million, or 2 cents, a year earlier. Analysts had estimated a loss of 2 cents.