initial public offerings (IPOs) trading on American exchanges

Wednesday, February 8, 2012

Groupon reports losing money despite revenue surge; stock plunges A/H

Groupon Inc. stock plunged almost 10 percent in after-market trading after the company reported it lost $42.7 million in its fourth quarter despite a sharp increase in revenue.

The Chicago-based online coupon company said that for the three months that ended Dec. 31, the net loss attributable to common stockholders was 8 cents per share compared with $1.08 a share for the previous fourth quarter.

Revenue grew to $506.5 million for the quarter, a 194 percent increase from the $172.2 million in sales it saw the previous fourth quarter.

** daily ** A/H

** weekly ** A/H

Groupon shares were trading at $22.14, down 9.9 percent, in after-hours trading, after ending the regular market day up 1.6 percent.

“Groupon had a strong fourth quarter and we finished 2011 having helped 250,000 local merchants across 47 countries grow their businesses while saving Groupon customers billions of dollars,” Andrew Mason, CEO and co-Founder of Groupon, said in a press release. “We will continue to invest in new services and tools that help our merchant partners be more successful and drive local commerce around the world.”

No comments:

Post a Comment