Member access

4-Traders Homepage  >  Shares  >  Nasdaq  >  Groupon Inc    GRPN   US3994731079

GROUPON INC (GRPN)

48
Delayed Quote. Delayed Nasdaq - 10/30 04:00:01 pm
5.99 USD   +3.45%
34m ago GROUPON : profits rise as revenues beat forecasts
1d ago GROUPON : reports 3Q loss
1d ago GROUPON : Announces Third Quarter 2014 Results
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

Groupon results disappoint again, stock hits record low

11/08/2012 | 07:42pm US/Eastern

Groupon Inc's results again fell short of Wall Street's already-cautious expectations as the daily deal company failed to turn around a struggling European business, sending its shares to a record low.

Groupon also confirmed on Thursday that it cut about 80 employees, mainly in sales, as part of an effort to automate and streamline the way its daily deals are sourced and distributed.

The company's shares slid to a record low of $3.25 in after-hours trading on Thursday, down 17 percent from their closing price of $3.92.

The darling of investors during last year's consumer dotcom IPO boom, Groupon has now shed four-fifths of its value since its public trading debut.

Wall Street has grown increasingly uneasy about the viability of its business as daily deals fever wanes among consumers and merchants, and as previously strong growth rates sputter.

Adding to the difficulties, the U.S. Securities and Exchange Commission has been inquiring into Groupon's accounting and disclosures, an area of controversy during its initial public offer.

Groupon's third-quarter revenue was $568.6 million, compared with $430.2 million in the year-ago period. Analysts were expecting revenue of $590 million, according to Thomson Reuters I/B/E/S.

It posted a quarterly net loss of $3 million, or zero cents per common share, compared with a net loss of $54.2 million, or 18 cents a share, in the third quarter of 2011.

Consolidated segment operating income, or CSOI, was at just over $50 million in the third quarter. Groupon forecast fourth-quarter CSOI between $30 million and $50 million.

Sameet Sinha, an analyst at B. Riley & Co, was expecting CSOI of $65.7 million in the third quarter and $67.7 million in the fourth quarter.

"CSOI was a big miss and Europe is taking it on the chin," Sinha said.

Andrew Mason, chief executive of Groupon, said on Thursday that a "solid performance" in North America was offset by "continued challenges" in Europe.

International revenue, which includes Europe, grew 3 percent to $277 million in the third quarter. North American revenue surged 80 percent to $292 million.

Europe has been a particular problem for Groupon, partly because the sovereign debt crisis has dented demand for higher-priced deals. Groupon was also offering steeper discounts, turning off some European merchants.

(Reporting By Alistair Barr; editing by Gary Hill, Andre Grenon and Matthew Lewis)

By Alistair Barr

Stocks treated in this article : Amazon.com, Inc., Groupon Inc
Latest news on GROUPON INC
34m ago GROUPON : profits rise as revenues beat forecasts
1d ago GROUPON : reports 3Q loss
1d ago GROUPON : Announces Third Quarter 2014 Results
7d ago GROUPON : Launches “Taste of Groupon :,” Featuring the Best Restaura..
10/23 GROUPON : hub worth 200 new posts
10/22 Private capital gets more bang in China as economic reforms step up
10/22 GROUPON : American Tortoise Rescue Partners With Groupon Grassroots for Hallowee..
10/22 GROUPON : Announces Pages, a New Way to Connect People with Millions of Local Bu..
10/21 GROUPON : Amdavadi foodies drive the exclusive discount websites
10/20 GROUPON : Updates Popular iPhone App to Include Apple Pay
Advertisement
Chart
Duration : Period :
Groupon Inc Technical Analysis Chart | GRPN | US3994731079 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF