Business

Groupon disappoints on weak Q2 revenue of $751.6M, and investors quickly send it packing

Image Credit: swanksalot/Flickr

Updated 4:33 p.m. with non-GAAP earnings per share instead of GAAP.

Groupon today reported disappointing second quarter results for the 2014 fiscal year, with revenue of $751.6 million and earnings per share of $0.01.

Analysts expected Groupon to post earnings per share of $0.01 and revenue of 761.80 million this quarter, up year over year from a loss per share of $0.01 and revenue of $608.7 million.

Before the closing bell, Groupon stock was slightly up by less than 1 percent. In after-hours trading, the company is down a whopping 17 percent.

Mobile growth appears to be Groupon’s one redeeming quality; the company claims to mobile transactions reached an “all-time high in June 2014. Nearly 92 million people have now downloaded Groupon mobile apps worldwide,” the company reports.

Groupon made two acquisitions this calendar year: The firm reportedly dropped $43 million on flash-sale fashion site Ideeli in January, and in June it acquired mobile coupon rebate app SnapSaves for an undisclosed sum.

More information:

Groupon (a portmanteau derived from "group coupon") is a deal-of-the-day website that features discounted gift certificates usable at local or national companies. Groupon was launched on November 2008, the first market for Groupon was ... read more »

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3 comments
Raj Prasad
Raj Prasad

Not surprising! Worst customer service ever, have been ripped of twice. Hope the shareholders bail quickly, the Groupon model is doomed to fail

Joseph Puopolo
Joseph Puopolo

How many companies wish they did 3/4 of a billion in a quarter ?!