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$GRPN General Update: Groupon launched a new GRPN Apple Watch app, expanding reach of its local ecommerce marketplace across all types of consumer devices. With the new app, users gain instant access to key features from GRPN's iPhone experience right from their wrists including the ability to discover & buy GRPN deals at nearby local businesses.
During 2Q17, $GRPN's North America gross profit rose 8% YoY to $234MM, mainly driven by Local gross profit growth of 13%. Active customers in the region during the quarter were 300,000, offset by continued attrition of LivingSocial customers. International gross profit remained flat at $94MM.
During 2Q17, $GRPN's North America reported 8% rise in its gross profit to $233.9MM. Active customers in the region were 31.9MM, with an addition of 300 thousand net new active customers. International gross profit fell 4% to $94.2MM. Active customers within the region decreased 300 thousands to 16.4MM.
$GRPN, which partnered with $GRUB for a food delivery deal, reported 8% decline in 2Q17 revenues to $662.6MM. Net loss stood at $9.3MM, or $0.02 per share, compared to $54.9MM, or $0.10 per share during 2Q16. This improvement was due to non-operating foreign currency gains of $10.8MM. Excluding items, $GRPN earned $0.02 per share.
$GRPN stated that on LivingSocial, in terms of the billing impact in 1Q17, the company had about a 300 BP benefit of having LivingSocial in 2017 than a year ago. Additionally, with regards to net customer additions generally in 1Q17, on a same country basis, it was about 600,000.
In 1Q17, $GRPN's North America gross profit grew 2% to $220.9MM. Meanwhile active customers in the region reached 31.6MM as of March 31, 2017, with 500,000 additions during the quarter. International gross profit declined 15% to $88.5MM due to exit from some countries. International active customers were roughly flat sequentially at 16.7MM.
Online marketplace $GRPN managed to halve its losses in 1Q17, despite a 4% decline in revenue to $673.6MM. Net loss stood at $24.4MM, or 4 cents per share, compared to $49.1MM, or 8 cents per share in 1Q16, primarily due to lower expenses. Adjusted EBITDA rose to $44.8MM.
For 4Q16, $GRPN’s level of order discount was about $60MM, which was up about $20MM YoY. The company believes order discounts are similar to marketing and is a good way to acquire and engage with customers. The company is pleased with its current position on order discounts.
$GRPN's gross profit for 4Q16 was $370MM, driven by an increase in North America offset by declines internationally, which were driven by both country exits and the impacts of transitioning operations. For North America, gross profit grew 14% to $251MM.