Reuters: Technology News: Groupon plans $300 million share buyback; revenue exceeds estimates

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Groupon plans $300 million share buyback; revenue exceeds estimates Aug 7th 2013, 20:45 Tweet Share this Email Print Related News Groupon quarterly revenue exceeds analyst estimates 4:11pm EDT UPDATE 2-First Solar cuts 2013 outlook, buys GE solar technology Tue, Aug 6 2013 UPDATE 1-Glu expects bigger-than-expected loss as mobile game demand falls Tue, Aug 6 2013 Nuance cuts forecast on delayed deals, move to subscription Tue, Aug 6 2013 Glu revenue falls as fewer customers bought mobile games Tue, Aug 6 2013 Related Topics Tech » Hot Stocks » Asian Markets » The Groupon smartphone app is displayed on a Motorola Droid Bionic cell phone in Denver November 4, 2011. Credit: Reuters/Rick Wilking SAN FRANCISCO | Wed Aug 7, 2013 4:13pm EDT SAN FRANCISCO (Reuters) - Groupon Inc on Wednesday reported quarterly revenue of $608.7 million, a stronger-than-expected result that lends credence to the deals site's new mobile-centric strategy. With its core, daily deals business model in steep decline over the past year, the Chicago-based company in recent months has re-invented itself as a more traditional e-commerce business that sells long-term deals through its smartphone app. Shares of the company have risen roughly 80 percent since January 1. Analysts on average expected $606.2 million in revenue, according to Thomson Reuters I/B/E/S. (Reporting by Gerry Shih; Editing by Steve Orlofsky) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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