Groupon Announces Fourth Quarter and Fiscal Year 2022 Results

Rhea-AI Summary

Groupon (NASDAQ: GRPN) announced its fourth quarter and fiscal year 2022 earnings, reporting a sequential growth in local billings of 6% compared to the third quarter. The company is on track to achieve $250 million in annualized cost reductions by the end of 2023, reflecting its commitment to driving operational efficiency. In addition, Groupon aims to enhance marketplace engagement and unlock growth opportunities.

Positive

• Sequential growth in fourth quarter local billings by 6%
• On track to remove $250 million of annualized costs by the end of 2023

Negative

• None.

On Track to Remove $250 Million of Annualized Costs by the End of 2023

Fourth Quarter Local Billings Grew 6% Sequentially Compared with the Third Quarter

CHICAGO--(BUSINESS WIRE)-- Groupon (NASDAQ:GRPN) issued its fourth quarter and fiscal year 2022 earnings press release today and provided details on its recent operating progress and plans to drive engagement with its marketplace and unlock growth.

The fourth quarter and fiscal year 2022 earnings materials are posted on Groupon’s Investor Relations site located at investor.groupon.com.

About Groupon
Groupon (www.groupon.com) (NASDAQ: GRPN) is a trusted local marketplace where consumers go to buy services and experiences that make life more interesting and deliver boundless value. To find out more about Groupon, please visit https://about.groupon.com/press.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230315005880/en/

Investor Relations Contact(s):

Jennifer Beugelmans

Megan Petrous

ir@groupon.com

Media Relations Contact:

Nick Halliwell

press@groupon.com

Source: Groupon

FAQ

What was Groupon's local billings growth in the fourth quarter of 2022?

Groupon reported a 6% sequential growth in local billings compared to the third quarter of 2022.

How much cost reduction is Groupon targeting by the end of 2023?

Groupon is aiming to remove $250 million in annualized costs by the end of 2023.

What is Groupon's stock symbol?

Groupon's stock symbol is GRPN.

When did Groupon announce its fourth quarter and fiscal year 2022 earnings?

Groupon announced its fourth quarter and fiscal year 2022 earnings on March 15, 2023.