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Groupon just reported its earnings for its first financial quarter of 2013. The company, which is still looking for a new CEO after the ouster of Andrew Mason in February, posted a $0.01 loss per share but says its non-GAAP EPS excluding stock compensations was $0.03. Its revenue was higher than expected with $601.4 million in sales, compared to $0.02 earnings per share (EPS) on $559.3 million of revenue in the year-ago quarter.

The expectation among financial analysts was that the company would report an year-over-year sales growth of 5.3% and an EPS of $0.03 on revenue of $588.92 million for this quarter (with a high very optimistic high estimate of $618.5).

Last quarter, Groupon reported $638.8 million revenue, buoyed by a strong holiday season, but the company still posted an operating loss of $19.9 million and a loss per share of $0.12.

“We are encouraged by our results, as our local revenues accelerated and our margins improved over the prior quarter,” said Eric Lefkofsky, Chairman and co-CEO of Groupon. “We had record mobile performance as 45% of our North American transactions came from mobile in March, and more than 7 million people downloaded our apps in the quarter.”

One of the main indicators for Groupon’s health has long been gross billings – a reflections of how much money the company has collected from its customers for Groupons it has sold. Last quarter, gross billings increased 24% to $1.52 billion. Gross billing for this quarter was $1.41 billion.

In the last quarter, Groupon also reported that it had 41 million active customers, up 22% quarter-over-quarter and that it was handling about 37,000 active deals at any given time.

Groupon has obviously been through a somewhat tumultuous time recently. The company’s ouster of CEO Andrew Mason after a number of disappointing quarters, however, seems to have brought some stability back to the company. Its share price remains low, though it’s up from its all-time low of $2.60. Currently, the stock is trading at around $5.60.

After Mason’s exit, executive chairman Eric Lefkofsky and vice chairman Ted Loensis were appointed to the company’s newly created Office of the Chief Executive as interim CEOs. The company has yet to announce a permanent replacement for Mason.

 

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