Groupon hikes revenue forecasts despite swinging to $55m quarterly loss

 
Mark Sands
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Despite announcing a loss, Groupon beat analyst forecasts (Source: Getty)

Groupon has reported a loss of $54.9m (£41.5m) for the second quarter, a year after notching a profit of $110m.

However, the discounts firm said that adjusted for charges and other items, it would have meant a loss of just $0.01 per share.

This put the firm ahead of average analyst forecasts of a loss of $0.02 per share.

In addition, second quarter revenues climbed from $738.4m to $756m.

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As a result, Groupon hiked its revenue outlook for 2016 to $3.1-$3bn, up from $2.75bn-$3.05bn.

Groupon chief executive Rich William said: "We continued to see strong traction in customer acquisition as we added more than 1 million new customers -- the most in more than two years.

"We're excited with the progress of our marketing programs to date and their effectiveness in introducing millions more people to our marketplace."

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