Groupon Reported Mixed 3Q Results; Maintaining $4.60 FVE; Shares Are now Undervalued
Groupon reported mixed third-quarter results as the company missed our internal estimate and consensus on revenue, while it beat on the bottom line. The firm’s restructuring which includes less focus on the traditional voucher business is progressing a bit more slowly than expected. Decline in revenue from less vouchers was only partially offset by the faster growing card-linked offers made available through Groupon+ and online bookings of local events and services. Continuing cost control, main...Groupon operates online local commerce marketplaces that connect merchants to consumers by providing goods and services through its websites, groupon.com, and its mobile applications. The company provides goods and services in three categories: Local, which includes offerings from local and national merchants, and local events; Goods, which provides customers the ability to find discounted merchandise across multiple product lines, including electronics, sporting goods, jewelry, toys, household items and apparel; and Travel, which features travel offers at both discounted and market rates, such as hotels, airfare and package deals covering both domestic and international travel.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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