Shares plummet by a
fifth
According to Brid-Aine Parnell voucher bazaar Groupon
managed to bag a profit for the first time ever in the second quarter of this
year - but it wasn't enough to convince investors it's a good place to leave
their money.
The coupon company's revenue missed analysts' expectations,
sending shares sliding down more than 18 per cent in after-hours trading.
Groupon reported net profit of $28.4m instead of the net
loss of $107.5m it posted in the same quarter last year, and revenue of $568.3m
versus last year's $392.6m. But analysts polled by Thomson Reuters I/B/E/S were
expecting revenue of $573m. Shares stayed steady yesterday, but dropped 18.68
per cent in pre-market trading to $6.14...
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