NEW YORK (TheStreet) -- Shares of Groupon (GRPN) - Get Report are jumping 24.6% to $4.71 in after-hours trading on Wednesday after the company reported a narrower-than-expected loss for the 2016 second quarter.
After today's closing bell, the Chicago-based e-commerce marketplace posted an adjusted loss of 1 cent per share, while analysts were expecting a loss of 2 cents per share.
Revenue for the period was $756 million, above analysts' estimates of $711.2 million.
"We continued to see strong traction in customer acquisition as we added more than 1 million new customers -- the most in more than two years," CEO Rich Williams said in a statement.
Gross billings declined 2% to $1.49 billion from last year. Billings were impacted by dispositions and country exits related to the company's restructuring.
Groupon also upped its 2016 revenue outlook to be between $3 billion and $3.1 billion from $2.75 billion to $3.05 billion, the Fly noted. Analysts are modeling revenue of $3.02 billion for the full year.
The company expects adjusted EBITDA to range between $140 million and $165 million for the full year.
About 12.65 million of the company's share changed hands today compared to its average volume of 5.65 million shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: GRPN