By Alistair Barr | Reuters – 5 mins ago SAN FRANCISCO (Reuters) - Groupon Inc posted its first quarterly profit as the world's largest daily deal company reined in marketing spending, and its stock rose sharply.
The after-hours rally to $13 on Monday followed a gain of more than 18 percent in regular trading.
First-quarter pro-forma net income, which excludes option expenses, was 2 cents per share, versus a net loss of 41 cents a share, a year earlier. Revenue was $559.3 million, compared with $295.5 million in the first quarter 2011.
Groupon was expected to make 1 cent per share in pro-forma first-quarter earnings, according to Thomson Reuters I/B/E/S. Net revenue was forecast to be $531 million.
(Reporting by Alistair Barr; Editing by Richard Chang)
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