Groupon: 2Q Earnings Snapshot
CHICAGO (AP) _ Groupon Inc. (GRPN) on Friday reported a loss of $95 million in its second quarter.
The Chicago-based company said it had a loss of 17 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 2 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The online daily deal service posted revenue of $617.4 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $630.8 million.
The company’s shares closed at $4.74. A year ago, they were trading at $4.23.