Groupon Plunges to New All-Time Low After Q3 Results
Struggling daily-deals site Groupon (NASDAQ: GRPN) released its fiscal third quarter earnings results on Thursday after the closing bell. In the aftermath of the report, the stock was crushed and GRPN is sitting at a new all-time low in after-hours trading. At last check, shares were down around 16 percent to $3.30. During Thursday's regular trading session, GRPN closed up 4.26 percent to $3.92.
Groupon has now fallen an almost unbelievable 83.5 percent since going public at $20.00 per share last November. The first day of trading in the Groupon IPO was November 4, 2011 when the stock jumped 31 percent and closed at $26.11.
For the third-quarter, the company reported a loss of $3.0 million or breakeven per share, compared to a loss of $54.2 million or $0.18 per share, in the year ago period. This missed Wall Street consensus earnings per share estimates calling for a profit of $0.03.
Revenues in the period were $568.6 million, a 32 percent gain from the $430.2 million the company reported last year. This also missed analysts' consensus revenue estimates of $590.12 million by a wide margin.
Looking ahead to the fourth-quarter, Groupon forecast revenues between $625 million to $675 million. This compares to current consensus revenue estimates of $633.87 million.
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