Groupon reports smaller 1Q loss, higher revenue
NEW YORK (AP) - Online deals company Groupon is reporting a smaller net loss and sharply higher revenue for the first quarter, helped by increased demand from a growing customer base.
Groupon Inc. said Monday that its net loss was $11.7 million, or 2 cents per share, in the January-March period.
The company had posted a loss of $146.5 million, or 48 cents per share, in the first quarter of 2011 when it was still privately held.
Excluding special items, Groupon earned 2 cents per share in the latest quarter. That matched analysts' average forecast, according to FactSet.
Revenue grew 89 percent to $559.3 million from $295.5 million a year earlier. Analysts expected $530.5 million, according to a poll by FactSet.
Chicago-based Groupon went public in November.
(Copyright 2012 by The Associated Press. All Rights Reserved.)
AP-NY-05-14-12 1728EDT
Groupon Inc. said Monday that its net loss was $11.7 million, or 2 cents per share, in the January-March period.
The company had posted a loss of $146.5 million, or 48 cents per share, in the first quarter of 2011 when it was still privately held.
Excluding special items, Groupon earned 2 cents per share in the latest quarter. That matched analysts' average forecast, according to FactSet.
Revenue grew 89 percent to $559.3 million from $295.5 million a year earlier. Analysts expected $530.5 million, according to a poll by FactSet.
Chicago-based Groupon went public in November.
(Copyright 2012 by The Associated Press. All Rights Reserved.)
AP-NY-05-14-12 1728EDT
