Groupon announced financial results for the second quarter ended June 30, 2015. Gross billings, which reflect the total dollar value of customer purchases of goods and services, increased to $1.53 billion, compared with $1.50 billion in Q2 2014.
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Gross billings grew 2% globally, or 10% excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter. On this F/X neutral basis, North America billings increased 12%, EMEA increased 9% and Rest of World increased 6%.
Revenue increased to $738.4 million in the second quarter 2015, compared with $716.2 million in the second quarter 2014. Revenue grew 3% globally, or 11% excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter.
On this F/X neutral basis, North America revenue increased 14%, EMEA increased 9% and Rest of World declined 4%.
Gross profit was $337 million in the second quarter 2015, compared with $366.4 million in the second quarter 2014. Excluding the $28.3 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, gross profit would have been $365.3 million.
Adjusted EBITDA, a non-GAAP financial measure, was $61.1 million in the second quarter 2015, compared with $59.7 million in the second quarter 2014, as lower gross profit was mostly offset by lower operating expenses, both reflecting the impact of year-over-year changes in foreign exchange rates.
Net earnings attributable to common stockholders was $109.1 million, or $0.16 per share, including $0.21 related to the gain on the Ticket Monster sale. Non-GAAP earnings attributable to common stockholders was $13.8 million, or $0.02 per share.
Operating cash flow for the trailing twelve months ended June 30, 2015 was $346.3 million. Free cash flow, a non-GAAP financial measure, was negative $12.5 million in the second quarter 2015, bringing free cash flow for the trailing twelve months ended June 30, 2015 to $266.8 million.
At the end of the quarter, Groupon had $1.1 billion in cash and cash equivalents. ■