Groupon makes a loss in first quarter
Wednesday, February 8, 2012/
Group buying giant Groupon has made a loss in its first quarter trading as a publically listed company.
For the full year 2011, revenues rose by 419% to $US1.6 billion, up from $US312.9 million in 2010. But the company reported a loss of eight cents per share, or $US42.7 million.
But analysts pointed to marked improvement, with the company making a loss of $US1.08 per share a year earlier. Adjusted, the loss was just two cents per share.
While Groupon did not give a specific reason for the loss, some have pointed to the fact the company is reducing marketing efforts which may affect profits.