Operator: Good day, everyone. Welcome to the Groupon's First Quarter 2013 Financial Results Conference Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the Company's formal remarks. Today's conference call is being recorded.
For opening remarks, I'd now like to turn the call over to the Senior Director of Investor Relations, Genny Konz. Please go ahead.
Genny Konz - IR: Hello, and welcome to our first quarter 2013 financial results conference call. On the call today are Eric Lefkofsky, Co-CEO; Kal Raman, COO; and Jason Child, CFO. Ted Leonsis, Co-CEO will join us at the part of the Q&A session. The following discussion and responses to your questions reflect management's views as of today May 8, 2013, only and will include forward-looking statements. Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in today's press release and in our filings with the SEC including our Form 10-Q.
During this call, we'll discuss certain non-GAAP financial measures in our press release and our filings with the SEC each of which is posted on our Investor Relations website. You will find additional disclosures regarding non-GAAP measures including reconciliations of these measures with U.S. GAAP measures. Finally, unless otherwise stated all comparisons in this call will be against our results for the comparable period of 2012.
Now, I will turn the call over to Eric.
Eric Lefkofsky - Office of the Chief Executive: Thanks, Genny. We're encouraged by our performance in the first quarter of 2013. Gross billings growth of 4% year-over-year was driven by 23% growth in North America; revenue growth of 8% was driven by 42% growth in North America, and sequentially, operating income improved by $34 million in the past quarter.
We're pleased by these results, particularly when considering the tough prior year comparable, when our European business was larger, but we have a lot more work to do, especially in our international business.
At times in organization, we've spread ourselves too thin and failed to focus on the things that will have the greatest impact, and at times given the complexity and evolution of our business, it's been difficult for you and others to gauge our progress. As we start the new chapter, we intend to be more focused and endeavor to provide additional insight along the way.
Before I provide some color on our results, I'd like to take a giant step back to give you some more context on where we've been and where we're headed. I've been involved with Groupon since the very beginning. When Andrew and I couldn't find a business trying to change the world, we collected social action. We decided to try and find one by saving people money via a collective buying power, and in a flash, Groupon was born.
Groupon invented a daily deal space and with it a means of revolutionizing local commerce for consumers and merchants. By using the power of the deal, we found a tool that hundreds of thousands of merchants could relate to as a way of tapping into the internet and attracting customers.