Groupon reported revenue growth that topped expectations, lending credence to the deals site's new mobile-centric strategy.
With its core, daily deals business model in steep decline over the past year, the Chicago-based company in recent months has re-invented itself as a more traditional e-commerce business that sells long-term deals through its smartphone app. Shares of the company have risen roughly 80 percent since January 1.
After the earnings announcement, the company's shares gained more than 18 percent in extended-hours trading. (Click here to get the latest quote.)
"We significantly exceeded our operating income expectations, and delivered our strongest quarter ever in North America, due in part to accelerated billings growth of 30 percent," Groupon CEO Eric Lefkofsky said.