While revenues are up 89 per cent year-on-year.
Daily deals service Groupon's Q1 gross billings – profit from Groupons customers have bought – excluding taxes hit $1.3 billion, up 103 per cent year-on-year.
Meanwhile, Q1 revenue reached $559.3 million, rising from $295.5 million in Q1 2011. By the end of the quarter, the firm claims to have a $1.2 billion cash pile, with no long-term debt.
Andrew Mason, CEO of Groupon, said: "We are pleased to report a record quarter that demonstrates our progress in unlocking the opportunity in local commerce for merchants and customers worldwide."
North America accounted for a large revenue growth, up 75 per cent year-on-year, while overall Groupon users hit 36.9 million, a 140 per cent increase year-on-year.
In April, almost one-third of North American Groupons were made via mobile devices, up from 25 per cent in December 2011.
Like what ME does? Make sure you sign up to our daily news headline service by clicking here.