Revenue guidance for the second quarter 2012 is now projected to grow at 40% to 50% in a range of $550 million to $590 million. Income from operations is put at $25 million to $45 million, which includes approximately $35 million of stock-based compensation. Estimates next quarter are $0.03 EPS and $559.34 million in sales.
The site reported that first quarter gross billings actually increased 103% to $1.35 billion in the first quarter 2012. For the quarter, operating cash flow increased 367% to $83.7 million and free cash flow was $70.6 million for the first quarter 2012.
North American revenues grew 75%. Groupon surpassed the 35 million active customer mark with a 140% gain to 36.9 million active customers. More than 100,000 unique merchants were served in a single quarter.
Groupon ended this last quarter with $1.2 billion in cash and cash equivalents and no long-term debt. Groupon’s lock-up period has been extended from May 2, 2012 to June 1, 2012.
Shares closed up 18.5% at $11.73 against a post-IPO range of $9.63 to $31.14 and the company had a market capitalization rate of $7.57 billion. The after-market reaction so far has shares up almost 12% at $12.95 in active trading.
JON C. OGG
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