Groupon reports Q4 adjusted EPS (38c), consensus (40c)

Reports Q4 revenue $148M, consensus $161.55M. "We are in the midst of executing a transformation strategy that we believe will allow Groupon to unlock its full potential," said Kedar Deshpande, CEO of Groupon. "While we faced some macroeconomic headwinds in 2022, we also believe that we did not move quickly enough to adapt our business model to meet the new and emerging needs of our Local merchants and customers. Looking ahead to 2023, we are focusing the entire organization on three areas: improving the supply side of our marketplace to drive customer demand, leveraging an improved inventory base to make our marketing and promotional spend more efficient, and doing both of these against a backdrop of a meaningfully streamlined cost structure and much better operational rigor. We believe that successful execution in these areas will allow us to return the company to growth and allow us to deliver positive adjusted EBITDA even on a reduced revenue base. Given the work that we have done and the opportunities that lay ahead for us, we believe we are well positioned to create value for our customers, merchants, employees and shareholders."