Groupon features a daily deal on the best stuff to do, see, eat, and buy in Seattle and a variety of other cities across the United States.
Groupon’s Revenue Grows By 45% In 2012 Q2
The Groupon story is one which if followed, can leave your head spinning. One quarter fortunes are up, the other, things are disastrously bad.
Well, based on the latest data coming out of the company, things are good—very good as a matter of fact. According to Q2 2012 earnings data, revenues grew by 45% to top out at $568 million. Engagement is also up on the site and Groupon is reporting gross billings of $1.29 billion (a 38% increase). Things have also quieted down on the operational side and the company is reporting increased operating income of $46.5 million.
Globally Groupon saw growth of 30% revenue-wise, but its North American fortunes were even greater with 66% revenue growth. The company also has a lot of cash to show for that growth and Groupon ended the quarter with over $1.12 billion in cash or cash equivalents.
Not bad at all for a company that 6 months ago was struggling to attract merchants and getting people to buy. Andrew Mason, CEO of Groupon summed up the performance: “We had a solid quarter despite challenges in Europe and continued investment in technology and infrastructure. We’ve deepened our relationships with a growing base of merchants and customers worldwide, demonstrating progress as we work to unlock the opportunity in local commerce.”
Let’s see how well things continue like this; just days ago there were reports on Bloomberg that Groupon may be in for a rough ride in the coming months. Let’s wait and see.