Groupon stock falls after 3Q results fall shortNovember 8th, 2012 in Technology / Business
(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.
Groupon Inc. said Thursday that its net loss was $3 million, or a breakeven per share, in the July-September period. A year ago it lost $54.2 million, or 18 cents per share.
Revenue grew 32 percent to $569 million, below Wall Street's expectations of $591 million as surveyed by FactSet.
Groupon's stock is down 49 cents, or 12.5 percent, at $3.43 in after-hours trading following the announcement. Groupon went public last November at a stock price of $20.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
"Groupon stock falls after 3Q results fall short." November 8th, 2012. http://phys.org/news/2012-11-groupon-stock-falls-3q-results.html