Groupon Inc. (GRPN) shares surged 45.35% on Friday

Groupon Inc. (GRPN) shares surged 45.35% in the current session and trading at $23.91.

GRPN

On Thursday, Groupon Inc. shares gained in the extended session after the online-coupon company beat Wall Street estimates by a quite big margin in the second quarter. The company reported a second-quarter loss of $72.1 million, or $2.53 a share, compared with $40.2 million, or $1.42 a share, in the year-ago period.

The revenue of Groupon slipped to $395.6 million from $532.6 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of $2.75 a share on revenue of $183.3 million by excluding such items as stock-based compensation, the adjusted loss was 93 cents a share.

The shares rallied 30% after hours, following a 0.5% decline in the regular session to close at $16.45.

The company said it would start on a second round of layoffs in August to trim the expenses but did not provide a specific headcount for the phase. Back in April, Groupon said it was cutting or furloughing about 44% of its total workforce by July 2021.