Groupon Inc (NASDAQ:GRPN) posted strong second quarter results that were better than the expectations. Strong financial results were the outcome of an increase in billings in North America and an increased mix of mobile in North America, from 45 percent in the last quarter to 50 percent now, according to a report from Sterne Agee by analysts Arvind Bhatia and Brett Strauser.

Groupon

 Groupon Inc (NASDAQ:GRPN) 2Q result above estimates

 For the second quarter, Groupon Inc (NASDAQ:GRPN) posted billings of $1.38 billion versus the analyst’s estimate of $1.4 billion. Revenues for the company came in at $608.7 million beating the analyst’s estimates of /$602 million. CSOI of /$59 million were also above the expectations by $14 million.

 Groupon Inc (NASDAQ:GRPN) has approved new buyback program of $300 million, which will be completed in next 24 months. The company appointed Eric Lefkofsky as CEO who was the Co-founder and interim CEO of the company. He replaced founder Andrew Mason on an Interim basis since February. These moves, according to the report, will boost the stock of the company.

Groupon Inc (NASDAQ:GRPN) strongest quarter ever in North America

 As per the analysts, the disclosure of international numbers from Groupon Inc (NASDAQ:GRPN) will help in analyzing the growth trend. EMEA increased by 4 percent whereas the other world declined 21 percent.

 There was a surge in North America billings by 30 percent year over year (yoy) exceeding the estimates of analyst by 21 percent. International level declined by 5 percent y/y, which missing analyst’s estimate of -1 percent.  For the quarter, revenue from North America increased 45 percent over the 28 percent estimate of analysts whereas International business declined 25 percent less versus the estimates of -13 percent.

 North America CSOI came in at $48.5 million, which was better than analyst’s expectation of $25 million, whereas International CSOI of $10.5 million was in line with the expectations of analysts, of $10 million.

 The company had its “strongest quarter ever in North America,” said CEO Lefkofsky, during the earnings announcement.

Groupon Inc (NASDAQ:GRPN)’s shares performing well

 Groupon’s shares surged over 27 percent after it posted better than expected sales for the quarter. Groupon Inc (NASDAQ:GRPN) stock has been in the uptrend, gaining almost 79 percent this year, but the shares have declined in their value since November 2012 after the company posted grim quarterly earnings and CEO Mason was ousted from the company.

Sterne Agee has a “Buyrating on Groupon Inc (NASDAQ:GRPN) with a price target of $12.