Groupon Inc (GRPN) Reports $609 Million In Revenues, Names Eric Lefkofsky As Permanent CEO
Groupon Inc (NASDAQ:GRPN) has named co-founder and interim CEO Eric Lefkofsky as the permanent chief executive at the company. Lefkofsky was made co-CEO with Ted Leonsis after Andrew Mason was fired. Leonsis will be made the chairman of the company.
Groupon has also reported their second quarter earnings and the company reported $609 million in revenues, just beating Wall Street estimates of $606 million. Groupon earned two cents per share, excluding stock-based compensation and expenses related to acquisitions.
Groupon has also authorized a $300 million share buyback. In after-hours trading, Groupon’s shares rose over 12%.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry