Groupon’s stock soared Thursday after the beleaguered online deals company named co-founder Eric Lefkofsky permanent CEO and posted stronger-than-expected revenue for the second quarter.

Groupon Inc. reported a 7 percent increase in quarterly revenue, to $608.7 million, inching past Wall Street’s expectations. Lefkofsky, who is Groupon’s largest shareholder, replaces Andrew Mason, who was fired in February amid growing concerns about Groupon’s financial and stock performance.

— From wire reports