If you wonder whether things can get worse for former daily deal wunderkind Groupon, the company today answered with a resounding: “Yes!”
Groupon released earnings for the third quarter, and Wall Street is just a tad disappointed with the Chicago-based daily deals site. By “just a tad,” we mean, well, furious. That anger is driving down Groupon’s stock by 12.76 cents in after-hours trading to $3.42. Groupon had closed Thursday up 4.26% or $0.16 to $3.92 in regular trading. But any optimism that signaled quickly vanished.
Groupon posted a loss of $2.98 million on revenue of $568.6 million for the quarter. Analysts had expected earnings of 3 cents per share and revenue of $590.1 million. The silver lining: Revenue was up from the $430.2 million posted in the same period last year.
2 comments
Groupon’s Deal Worsens Daily « NYC Real Estate News
[...] Wall Street on Thursday (Nov. 8) with a net loss of $3 million for the third quarter and below-expectations revenues of $569 [...]
Nov 8, 2012
Mas
Is there any amount of money large enoguh to convince Groupon’s founder, Andrew Mason, to sell his company? Maybe maybe not. But one thing is for certain: $6 billion is not a very convincing number.
Nov 19, 2012