Groupon names Eric Lefkofsky as CEO

August 7, 2013

Groupon named co-founder Eric Lefkofsky as CEO, replacing Andrew Mason, who was fired from the online deals site in February amid growing concerns about its financial performance.

Lefkofsky had served as Groupon's chairman and half of the Office of the Chief Executive, along with Vice Chairman Ted Leonsis, since Mason's ousting. Leonsis will now serve as the company's chairman.

Groupon also reported second-quarter results on Thursday. The company booked a loss of $7.6 million, or 1 cent per share, down from earnings of $28.4 million, or 4 cents per share, in the 2012 second quarter.

Adjusted were 2 cents per share in the latest period. That matched analysts' average expectations, according to FactSet.

Revenue rose 7 percent to $608.7 million. FactSet says analysts were expecting $606.2 million.

Explore further: Struggling Groupon ousts CEO Andrew Mason (Update)

Related Stories

Struggling Groupon ousts CEO Andrew Mason (Update)

February 28, 2013

Struggling online deals pioneer Groupon has ousted its quirky founder and CEO Andrew Mason amid worries that people are tiring of the myriad of online restaurant, spa and Botox deals that Groupon built its business on.

Groupon stock falls after 3Q results fall short

November 8, 2012

(AP)—Groupon, the No. 1 online deals service, says it had a small loss in the third quarter as higher revenue failed to make up for stock compensation and other expenses.

CBS 2Q beats Street as dispute goes on

July 31, 2013

CBS says net income rose 11 percent in the latest quarter, beating the expectations of analysts even as a dispute with one of its key TV distributors continues.

EBay 1Q revenue grows but falls below estimates

April 17, 2013

EBay grew its earnings and revenue in the first quarter thanks to growth in its PayPal business and its e-commerce sites. But revenue fell shy of Wall Street's expectations, causing investors to send the company's stock lower ...

Recommended for you

Microsoft aims at Apple with high-end PCs, 3D software

October 26, 2016

Microsoft launched a new consumer offensive Wednesday, unveiling a high-end computer that challenges the Apple iMac along with an updated Windows operating system that showcases three-dimensional content and "mixed reality."

Making it easier to collaborate on code

October 26, 2016

Git is an open-source system with a polarizing reputation among programmers. It's a powerful tool to help developers track changes to code, but many view it as prohibitively difficult to use.

Dutch unveil giant vacuum to clean outside air

October 25, 2016

Dutch inventors Tuesday unveiled what they called the world's first giant outside air vacuum cleaner—a large purifying system intended to filter out toxic tiny particles from the atmosphere surrounding the machine.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.