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CORRECTED-Groupon boosts 2014 outlook, forecasts weak Q2 profit
May 6, 2014 / 8:46 PM / 3 years ago

CORRECTED-Groupon boosts 2014 outlook, forecasts weak Q2 profit

(Corrects third paragraph to say first-quarter result was loss not earnings of 1 cent per share)

SAN FRANCISCO, May 6 (Reuters) - Groupon Inc boosted its full-year earnings outlook on Tuesday on the expectation its marketing push will pay off later this year, but forecast a smaller-than-expected profit in the current quarter.

“We’re expecting the profitability increase in the second half of the year as marketing dollars leverage themselves into growth,” Chief Financial Officer Jason Child told Reuters. “That will largely happen in the back half of the year.”

For the first quarter, the online marketplace lost 1 cent per share on an adjusted basis. For the full year, Groupon now sees adjusted EBITDA of more than $300 million.

Groupon expects to break even or earn as much as 2 cents per share in the second quarter, falling short of the 3 cents per share profit expected by Thomson Reuters I/B/E/S. (Reporting by Deepa Seetharaman; Editing by James Dalgleish)

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