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Groupon reports loss, higher revenue
(Scott Olson/Getty Images)
CHICAGO - Online deals site Groupon (GRPN), reporting for the first time as a public company, says its fourth-quarter revenue rose sharply, but it lost money.
Groupon Inc. said Wednesday that its net loss attributable to common shareholders was $42.7 million, or 8 cents per share, for the period. A year earlier, it booked a larger loss of $378.6 million, or $1.08 per share.
Groupon says its adjusted loss was 2 cents per share, while analysts expected an adjusted profit of 3 cents per share.
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Revenue was $506.5 million, nearly triple last year's $172.2 million for the quarter.
FactSet says analysts expected $473.1 million.
Groupon went public in November. It makes money from taking a cut from the online deals it offers, ranging from restaurant meals to weekend getaways.
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