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Groupon Revenue Up 7%, Announces New CEO

|Includes: Groupon, Inc. (GRPN)

Originally published at www.seclive.com

Groupon, Inc. (NASDAQ:GRPN) announced its financial results for the second quarter of fiscal year 2013, reporting a revenue increase from last year up 7% to $608.7M. Earnings per share were $0.02, in line with expectations. Additionally, while announcing its financial results the company also announced it has named Eric Lefkowsky, previously a co-interim CEO, to the permanent position of CEO for Groupon. The company issued guidance for next quarter, expecting revenues between $585M and $636M, while also announcing a $300M stock repurchase program had been authorized. Groupon stock jumped 20% in after-hours trading on the company's news. Half of the company's North American transactions occur via mobile devices, which investors hope will help drive more revenue as the company continues to explore ways to achieve profitable growth.

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