News Column

Groupon shares tank on losses

August 6, 2014

JOSEPH MILLIS



SHARES in online deal company Groupon plummeted yesterday after it reported second quarter losses of $22.9m (13.5m), or three cents a share, on revenue of $751.6m.


During the same period a year ago, it lost $7.8m on $608.7m in sales. The company's 24 per cent increase in revenue was offset by a jump in spending aimed at making the site more of an e-commerce player.


Groupon shares, down 22 per cent over the past year, fell 14 per cent to $6.10 in after-hours trading.


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Source: City A.M. (UK)


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