Online coupon distributor Groupon (GRPN), in its first report since going public, this afternoon reported Q4 revenue ahead of analysts’ expectations but reported a surprise net loss instead of the expected profit.
Revenue in the three months ended in December rose to $506 million, yielding a net loss of 2 cents a share.
Analysts on average had been modeling $473 million and 3 cents a share in profit.
For the current quarter, the company forecast $510 million to $550 million in revenue, ahead of the $501 million average estimate.
Groupon CEO Andrew Mason remarked that the quarter was “strong” and said the company intends to continue “to invest in new services and tools” for merchants.
Management will host a conference call with analysts at 4:30 pm, Eastern time, and you can catch the webcast of it here.
Groupon shares are down almost 11%, at $21.95 $3.28, or almsot 13% at $21.30 in late trading.
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