Groupon reported fiscal year and fourth quarter earnings for 2014 Thursday afternoon that beat expectations for both its revenue as well as earnings per share. The stock of the e-commerce company based in Chicago were down in trading after hours as the 2015 first quarter forecast missed expectations on Wall Street.
Fourth quarter income at Groupon ended at $8.8 million, compared to a loss of $81.2 million during the same period in 2013. The company’s loss for the full year was $73 million, in comparison to a 2013 net loss of more than $95.3 million.
Non-GAAP earnings for the fourth quarter were 6 cents per share, which was up from a negative 12 cents per share during the 2013 fourth quarter. Full year non-GAAP earnings per share were 8 cents, which was down from 11 cents for 2013. Per share earnings beat Wall Street estimates that were 3 cents a share.
A customer base that grew with increased per customer spending helped billings and revenue to increase. Black Friday as well as Cyber Monday record sales helped boost performance during the fourth quarter.
During 2014, Groupon introduced products including Snap, which refunds money to shoppers for grocery purchases, Pages for listings of merchants, Getaways app and Gnome a tablet platform for in-store for redemption of vouchers.
The company said it expects revenue for the first quarter to be between $790 million and $840 million and earnings per share of non-GAAP or between $0.00 and $0.02. The 13% projected revenue growth disappointed investors. The company outlined 15% growth in revenue back in November at Investor Day.
Groupon shares were down 1.58% on Thursday and traded even lower after hours.