Groupon disclosure, growth concerns hit stock

Thu Feb 9, 2012 2:03am GMT

1 of 3.

Credit: Reuters

Quotes

   

(Adds share price decline and analyst estimates)

By Alistair Barr

Feb 8 (Reuters) - Groupon Inc (GRPN.O) reported a quarterly net loss Wednesday as the largest daily deal company recorded higher taxes overseas.

Shares of the Chicago-based company slumped 11 percent to $21.86 in after-hours trading following the results.

Groupon, unveiling its first results as a public company, said its fourth-quarter net loss attributable to common stockholders was $42.7 million, or 8 cents a share. That compares to a loss of $378.6 million, or $1.08 a share, a year earlier.

On an adjusted basis, Groupon reported a fourth-quarter loss of 2 cents a share. Revenue was $506.5 million, up 194 percent from the final quarter of 2010.

Groupon was expected to make 3 cents a share profit on revenue of $475 million in the fourth quarter, according to Thomson Reuters I/B/E/S.

(Reporting By Alistair Barr in San Francisco; Editing by Bernard Orr and Tim Dobbyn)

((alistair.barr@thomsonreuters.com)(+1 415 677 2544)(Reuters Messaging:)(alistair.barr@thomsonreuters.com)(Reuters Messaging: alistair.barr.thomsonreuters.com@reuters.net)(follow my tweets @rtrswalibarr)) Keywords: GROUPON/URGENT

(C) Reuters 2012 All rights reserved. Republication or redistribution of Reuters content, including by caching, framing, or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.