Groupon Names Eric Lefkofsky Permanent CEO; Q2 Revenue Beats Street
The Groupon CEO search is over, and the man at the top is a familiar one: co-founder Eric Lefkofsky.
The company announced today that he will man the job permanently, after being named co-CEO along with Ted Leonsis when Andrew Mason was fired. Leonsis has been named chairman.
Groupon’s second-quarter earnings report is in and the company recorded revenue of $609 million, narrowly beating Wall Street’s consensus estimate of $606 million. The company earned two cents per share, excluding stock-based compensation and acquisition-related expenses, which was right in line with what Wall Street analysts were expecting.
The board has also authorized a $300 million share buyback program.
More to come…