Groupon skeleton $300 million share buyback; income exceeds estimates

SAN FRANCISCO (Reuters) – Groupon Inc announced a $300 million share repurchase module and tapped halt arch executive Eric Lefkofsky to lead on a permanent basis. .

The Chicago-based company, that has struggled with government misunderstanding and a fast exploding business, reported quarterly revenue that rose to $608.7 million, a stronger-than-expected outcome that also lends faith to a new mobile-centric strategy.

Billings in North America jumped 30 percent for a quarter, a record for a company.

Shares rose 11 percent to $9.72 after a bell.

With a core daily deals business model in high decrease over a past year, Groupon in new months has re-invented itself as a some-more normal e-commerce business that sells long-term deals by a smartphone app. Shares of a association have risen roughly 80 percent given Jan 1.

Analysts on normal approaching $606.2 million in revenue, according to Thomson Reuters I/B/E/S.

(Reporting by Gerry Shih; Editing by Steve Orlofsky and Carol Bishopric)