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Apple shows ambition to get into self-driving car race

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Apple shows ambition to get into self-driving car race

Groupon shows signs of life, shares surge

 

Groupon shows signs of life, shares surge
quarterly sales of

Groupon Inc. rose faster than expected 7.5 percent after the daily affairs North American trading company delivered a solid performance, stirring hopes that the company may have difficulty began to change.

Shares in the company, one of the beginners of the Internet market in 2011 for the most celebrated daily deals craze cooled, increased by nearly 10 percent in after-hours trading. They won about 40 percent since the Feb. ouster of co-founder and former CEO Andrew Mason, who was criticized for his lack of experience running a public company more global.

Wall Street was cautious before the results of Groupon, so “strong” performance of the company occupies a particularly large share of the profits Groupon Wednesday, analysts say.

“The margins were better and they confirm that they could have been worse full-year earnings forecasts. Re” said Ken Sena, an analyst at Evercore Partners.

Groupon tried to revive sluggish European business while juggling the cost of the rapid increase in new trapping customers and traders to dine close. Internet coupons for everything from spa treatments

The Chicago-based company eventually shot Mason in February after a series of disappointing results erased three quarters of its market value since the IPO in 2011.

On Wednesday, a turnover in the first quarter amounted to $ 601.4 million from $ 559.3 million a year earlier, more than expected, the $ 590 million analysts according to Thomson Reuters I / B / E / S.

Consolidated operating profit sector, or CSOI, a closely watched measure of profitability Groupon, totaled $ 51.2 million in the last period. Mark Mahaney, an analyst at RBC Capital Markets, waiting CSOI 26 million.

Sales in North America increased 42 percent, while international sales declined 18 percent.

Groupon, which has lost several other key employees, is looking for a new permanent chief executive. Interim Co-CEO Eric Lefkofsky and Ted Leonsis continue to struggle against its European business is struggling, while expanding in the United States.

Lefkofsky, who co-founded Groupon with Mason and president, led conference call with analysts results for the first time, the detection of counterfeit and the announcement of a “new chapter” focuses on the roots of the local trade company .

Analysts expect a Lean Enterprise under new management.

“Sometimes, as an organization, we distribute and not focus on things that will have the greatest impact,” said Lefkofsky.

LOCAL FOCUS MARKET

Groupon was the construction of a market of online transactions called Pull that allows people to search for and purchase offers in their environment. C is a big change from the original company of Groupon, a daily email sent to subscribers with one or two cases.

Emails represented less than 45 percent of transactions in North America in the first quarter, suggesting that the sweater market is gaining momentum. A Groupon spokesman declined to say how many transactions came from online searches.

Lefkofsky said the market approach has potential because more people carry smartphones and can find what they want and buy local when they move.

Approximately 45 percent of transactions in North America came from mobile devices March against about 20 percent two years ago, said Lefkofsky. However,

Pull market, many merchants offer deals for a longer period, something Lefkofsky said the company had made progress.

At the end of March, Groupon offered nearly 40,000 active trader deals in North America, from about 1000 when the company went public in late 2011.

Lefkofsky has said that more than half of the local Groupon transactions in North America came from this “investment bank” offers traders in the long run. March by more than 60 percent of the contracts with Groupon merchants were to good long-term business, he said.

Currently, the board of Groupon has formed a special committee started looking for a new Chief Executive Officer The company, co-interim CEO Ted Leonsis said Wednesday.

RBC Mahaney says Lefkofsky did a “good job” to the conference call and asked if he was interested in the full-time CEO. co-founder did not respond, ask Ted Leonsis, another interim CEO of Groupon, to chime in.

The current management team is “gelling very good” giving the inquiry more time to find “the best CEO in the long term, “said Leonsis.

Groupon spokesman Paul Taaffe said Lefkofsky was not proposed as a candidate by the Committee Taaffe not considered for the role.

Leonsis is the head of the inquiry, which will not be Lefkofsky. The Groupon declined to say which is another part of the group.