Groupon revenue boom
Groupon has announced a Revenue increase of 89% to $559.3 million in the first quarter 2012, compared with $295.5 million in the first quarter 2011. Gross billings, which reflects the gross amounts collected from customers for Groupons sold, excluding any applicable taxes and net of estimated refunds, increased 103% to $1.35 billion in the first quarter 2012, compared with $668.2 million in the first quarter 2011.
Operating income was $39.6 million in the first quarter 2012, which includes an expense of $28.0 million related to non-cash stock-based compensation. This compares with a loss from operations of $117.1 million in the first quarter 2011, which included stock-based expense of $18.9 million.
"We are pleased to report a record quarter that demonstrates our progress in unlocking the opportunity in local commerce for merchants and customers worldwide," said Andrew Mason, CEO of Groupon.
At the end of the quarter, Groupon had $1.2 billion in cash and cash equivalents and no long-term debt.
A closer look at its financial results reveals Groupon’s revenue growth was 101 % at an international level as compared to 75% in North America. It is also ramping up it international recruitment of staff.