Why Groupon, Inc. Stock Jumped on Wednesday

Why Groupon, Inc. Stock Jumped on Wednesday

Shares of coupon company Groupon (NASDAQ: GRPN) jumped as much as 10.3% on Wednesday, following the company's second-quarter earnings release. The stock is up 8.5% at the time of this writing.

For its second quarter, Groupon reported revenue and adjusted earnings per share of $662.6 million and $0.02, respectively. The consensus analyst estimate for revenue and adjusted earnings per share (EPS) was $670 million and breakeven, respectively. Groupon's higher-than-expected profitability may be a key reason for Groupon stock's rise on Wednesday.

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Source: Fool.com