Groupon Inc, Pandora Media Inc Beat Estimates

Groupon Inc, Pandora Media Inc Beat Estimates

Groupon and Pandora Media released their latest earnings reports after closing bell tonight. Groupon posted losses of 1 cent per share on revenue of $732 million, against the consensus estimates of 2 cents per share in losses on $717.6 million in revenue.

Pandora Media posted adjusted losses of 23 cents per share on $297.3 million in revenue, against the consensus estimates of losses of 31 cents per share and $286 million in revenue.

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Groupon stock rises after earnings

Groupon’s gross billings declined 5% to $1.47 billion, while adjusted EBITDA was $31.3 million. The company posted a GAAP loss of 8 cents per share. Management blamed the decline in gross billings on their restructuring efforts, country closures, and initiatives to de-emphasize Shopping items, which have low margins. The daily deals giant also said it sold its one billionth Groupon in the first quarter.

New CEO Rich Williams has been attempting to transition Groupon from being just a daily deals company to one focused on marketing and both domestic and international shopping. The company posted a massive beat in the last earnings report, but investors remain skeptical because it hasn’t been able to gain a commanding market share within its industry.  It did receive a vote of confidence earlier this month, however, in the form of a $250 million investment from independent private investment firm Atairos, which was launched by an investment by Comcast and is run by former Comcast executive Michael Angelakis.

Groupon management guided for full-year revenue to be between $2.75 billion and $3.05 billion, which compares to consensus at $3.01 billion. Shares of Groupon surged by 4.07% to $4.55 in after-hours trades.

Pandora Media stock climbs in after-hours

Pandora Media said adjusted EBITDA was -$57.4 million The streaming radio provider reported 7.4 million active listeners, against the consensus of 80 million. Total listener hours increased to 79.4 million. Total ad revenue increased 23% to $220.3 million, while local ad revenue grew 42% to $61.3 million. Ticketing revenue increased 30% to $22.3 million. Analysts had been expecting ticketing revenue of $17 million and adjusted EBITDA of -$68 million.

Pandora Media management expects second quarter revenue to be between $345 million and $365 million, which is strong compared to the consensus of $350.2 million. They expect full-year revenue of between $1.4 billion and $1.42 billion, which is in line with consensus at $1.41 billion.

Shares of Pandora surged by 4.98% to $9.90 in after-hours trades.

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