Shares of Groupon were down about 14 percent midday Thursday, a day after the company revealed that it failed to turn a profit in its first quarter as a publicly traded company. The daily coupon site saw a revenue increase of 194 percent to $506 million during its first fiscal quarter, but it still had a net loss of $42.7 million, or about 8 cents per share. Groupon numbers dipped thanks to a high overseas tax rate, global expansion and an increase in competition. However, the overall loss was still worse news than many Wall Street analysts had expected.
Loading ...
Groupon Shares Dumped in Discount Bin After Rough Quarter
Posted by: Rachelle Dragani February 9, 2012 10:47 AMShares of Groupon were down about 14 percent midday Thursday, a day after the company revealed that it failed to turn a profit in its first quarter as a publicly traded company. The daily coupon site saw a revenue increase of 194 percent to $506 million during its first fiscal quarter, but it still had a net loss of $42.7 million, or about 8 cents per share. Groupon numbers dipped thanks to a high overseas tax rate, global expansion and an increase in competition. However, the overall loss was still worse news than many Wall Street analysts had expected.