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Why Groupon Stock Exploded Higher Today

TheMotleyFool

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Why Groupon Stock Exploded Higher TodayPhoto, wide shot, wide-angle lens, Online marketplace, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/27d484d8-d1b1-4519-9797-b5dcaa68d4e2.png

Groupon (NASDAQ: GRPN) -- remember Groupon? It's apparently still a thing -- reported earnings last night, and investors are cheering the results. Shares of the online coupon site soared 22.2% through 10:20 a.m. ET Friday after the company missed on earnings, but beat on sales.

The question is why.

Heading into the Q1 2024 report, analysts forecast Groupon would earn $0.05 per share on sales of $121.6 million. As it turned out, sales were better than expected at $123.1 million. Unfortunately, instead of earning a profit, Groupon lost $0.33 per share.

Source Fool.com