Groupon posts mixed first-quarter results, keeps 'going concern' warning on filing

Shares of Groupon Inc. (GRPN) dropped more than 1% in aftermarket Wednesday after the deals and coupons company said it was "facing serious challenges" to remain afloat and offered mixed quarterly results. The company also kept a going-concern warning in a filing and the mention that it continues to evaluate "several different strategies" to improve liquidity. Groupon embarked on a restructuring plan in January and got a new chief executive in March In the first quarter, the company lost $29 million, or 95 cents a share, compared with a loss of $34.4 million, or $1.17 a share, in the year-ago period. Adjusted for one-time items, Groupon lost 65 cents a share. Revenue fell 21% to $121.6 million. Analysts polled by FactSet expected an adjusted loss of 94 cents a share on sales of $135 million. "While our first quarter results indicate that our business is facing serious challenges, I accepted the role of interim CEO of Groupon because I believe in Groupon's mission and I am confident that we have a winning transformation plan to rebuild Groupon and reposition it for future growth," interim Chief Executive Dusan Senkypl said in a statement.

-Claudia Assis

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05-10-23 1720ET

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