August 13, 2012 by Volamoot at Mashable!
Shares of Groupon fell more than 15% in afterhours trading after the company’s second-quarter revenues came in lower than projected.
The company posted sales of $568.3 million for the quarter, which was a bit below Wall Street’s consensus estimate of $578 million. Groupon’s adjusted earnings per share was 8 cents, which beat The Street’s estimate of $.03. The company’s revenues are up 45% compared to the comparable quarter in 2011.
“We had a solid quarter despite challenges in Europe and continued investment in technology and infrastructure,” said Andrew Mason, CEO of Groupon, said in a press release. “We’ve deepened our relationships with a growing base of merchants and customers…
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posted by Mashable from http://mashable.com/2012/08/13/groupon-stock-falls/