MacNN Forums (http://forums.macnn.com/)
-   Tech News (http://forums.macnn.com/tech-news/)
-   -   Groupon hammered in fourth quarter, posts $81.1 million loss (http://forums.macnn.com/113/tech-news/498470/groupon-hammered-fourth-quarter-posts-81-a/)

 
NewsPoster Feb 27, 2013 04:56 PM
Groupon hammered in fourth quarter, posts $81.1 million loss
<a href="http://macnn.com/rd/280021==http://www.groupon.com/" rel='nofollow'>Groupon's</a> fourth quarter earnings, announced today, fell well short of expectations -- with a net loss of 12 cents per share, but a street expectation of a two cent per share gain. The group deal company posted revenue of $638.8 million, and a net loss of $81.1 million. In the same time period last year, the company lost six cents per share on revenue of $492 million. After the earnings announcement, the company has lost 21.4 percent of its worth, falling $1.28 to $4.70 in higher-than-expected trading volume.<br />
<br />
The company reports that it saw expansion in direct revenue, earning $225.2 million, up from $145 million in the third quarter. The cost of the direct revenue was $218.6 million, leaving only $6.6 million in profit, not nearly enough to offset losses in other sectors of the company.

Nearly 40 percent of transactions in the US and Canada were completed on mobile platforms. Less than 33 percent were completed on mobile in October of 2012.

International earnings brought the company down, with $263 million coming from overseas, down from $312.5 million in the year-ago period. North America revenue climbed to $375.4 million, up from $179.6 million. Operating cash flow dropped 61 percent year-over-year to $65.7 million.

The company expects revenue for the first quarter of 2013 to come in between $560 million and $610 million, an increase of up to nine percent as compared to the first quarter of 2012. Operating income is expected to post at a loss of $10 million to a gain of $10 million, compared with a $39.6 million gain in the first quarter of 2012.
 
All times are GMT -4. The time now is 09:08 PM.

Copyright © 2005-2007 MacNN. All rights reserved.
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2016, vBulletin Solutions, Inc.


Content Relevant URLs by vBSEO 3.3.2