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Groupon (GRPN) reported nearly $350 million in billings for Q3, reflecting stability in its local category. The company is focusing on reducing costs and enhancing marketplace experiences as part of its turnaround strategy. Groupon reiterated its targets for 2023, indicating confidence in its operational progress. Despite current challenges, the company aims to position itself for profitable growth through economic cycles.
Positive
Nearly $350 million in third quarter billings indicates stability.
Turnaround strategy includes cost reduction and marketplace improvement.
Reiteration of targets for 2023 signals confidence in business direction.
Negative
None.
Local Category Stable with Nearly $350 Million in Third Quarter Billings
CHICAGO--(BUSINESS WIRE)--
Groupon (NASDAQ:GRPN) issued its third quarter earnings press release today and provided details on its recent operating progress. The company is executing its turnaround strategy, which is focused on two areas: reducing its cost structure and fundamentally improving its marketplace experience to position Groupon to grow profitably in a variety of economic cycles. Based on its progress, Groupon is reiterating its targets for 2023.
The third quarter 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.
