Groupon delivered earnings that pleasantly surprised shareholders. The daily deal provider reported a net loss of $11.7 million, a huge improvement from the $146.5 million it lost a year ago in its first quarter as a private company. It also posted stronger-than-expected revenue for the quarter, at $559.3 million — an 89 percent increase from the same period a year ago. Despite the net loss, the results are a welcome sign of growth for Groupon, which has been under the gun for shoddy accounting practices, disgruntled participating merchants and disillusioned shareholders.
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Groupon Gets a Second Wind
Posted by: Erika Morphy May 15, 2012 04:20 PMGroupon delivered earnings that pleasantly surprised shareholders. The daily deal provider reported a net loss of $11.7 million, a huge improvement from the $146.5 million it lost a year ago in its first quarter as a private company. It also posted stronger-than-expected revenue for the quarter, at $559.3 million — an 89 percent increase from the same period a year ago. Despite the net loss, the results are a welcome sign of growth for Groupon, which has been under the gun for shoddy accounting practices, disgruntled participating merchants and disillusioned shareholders.