Chicago, Illinois — Groupon (GRPN) Q3 Earnings Surpass Expectations, Highlights Growth in Platform Transformation
Groupon, Inc. (NASDAQ: GRPN) has announced its financial results for the third quarter of 2024, revealing performance that surpassed earnings estimates. In its report, filed on Form 10-Q with the Securities and Exchange Commission and now available on its investor relations website (investor.groupon.com), the company showcased continued progress in platform transformation and customer experience improvements.
Despite recent challenges, Groupon CEO Dusan Senkypl expressed optimism about the company’s trajectory. “The progress we’ve made in transforming our platform and enhancing our customer experience is laying the groundwork for sustainable growth,” Senkypl stated. “Our International Local business shows promising signs and new features like gifting and video content have been positively received, reinforcing our belief that we’re on the right path. We’re dedicated to continuous improvement and innovation, and I believe the best is yet to come for our company.”
Key metrics underscored Groupon’s gains, exceeding its Q3 2024 EBITDA guidance. The international local segment, excluding Italy, demonstrated stability with only a 2% year-over-year revenue decline, indicating resilience in the face of global economic pressures. Groupon also reached a milestone in North America, achieving 100% mobile web and desktop traffic on its revamped website, which supports faster development of new features.
Adding to its financial strength, Groupon entered a secured convertible debt agreement, raising $197 million to support ongoing business flexibility. This marks Groupon’s sixth consecutive quarter of positive adjusted EBITDA, reaching $78 million over the trailing 12 months—a signal of stability in its evolving marketplace strategy.
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