Groupon Inc.'s once-torrid daily deals business slowed in
its latest quarter, fueling investor concerns about the onetime Web commerce
star and sending shares to a new low. The
Chicago company reported its first-ever quarterly profit as a public company,
on revenue that increased 45% from the year-earlier period. But gains in the
second quarter were driven by Groupon Goods, a relatively new, low-margin
business of selling merchandise such as jewelry or kitchen appliances.
Revenue rose just 2% sequentially from the first quarter.
Second-quarter billings—the total amount of money Groupon pulls in before it
pays a cut to merchants—slipped 5% in ...
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