Groupon Q1 Earnings AnnouncementPosted on May 15, 2012
As many of you know – I have been involved with Groupon for a long time – and serve on their board of directors as Vice Chairman. Yesterday, we announced financial results for our first quarter of 2012. Here is a link to the press release – in an unfiltered manner for you to read and digest. Here are a couple of highlights: The company's gross billings grew 103 percent to $1.35 billion compared to the same quarter of 2011. Revenues increased 89 percent to $559 million for the quarter compared to year ago results for the same quarter. Operating profit was $39.6 million. Operating cash flow increased 367 percent to $83.7 million; and the company now has $1.2 billion of cash on its balance sheet without any long term debt. Read the release if you are interested in how the company is doing without any valued added analysis by bloggers – just the numbers. Thank you.