Arab Today, arab today groupon stock slides despite quarterly profit
Last Updated : GMT 21:55:33
Arab Today, arab today
Arab Today, arab today

Groupon stock slides despite quarterly profit

Arab Today, arab today

Arab Today, arab today Groupon stock slides despite quarterly profit

San Francisco - AFP

Online shopping deals giant Groupon on Monday posted a sound quarterly profit but saw its stock tumble nearly 20 percent due to a disappointing forecast for the months ahead. The Chicago-based firm reported a profit of $28.38 million on revenue that climbed 45 percent to $568.3 million in the quarter ended June 30. \"We had a solid quarter despite challenges in Europe and continued investment in technology and infrastructure,\" said Groupon chief executive Andrew Mason. \"We\'ve deepened our relationships with a growing base of merchants and customers worldwide.\" However, investors were unhappy with revenue that was less than analysts expected and a scaled back forecast for the current quarter. Groupon shares fell more than 20 percent to a new low but regained some ground, down 18.41 percent to $6.16 in after-market trading on the Nasdaq. The company made its stock market debut at $20 per share in November and peaked above $31 dollars a share. In February Groupon issued its first earnings report as a publicly traded company, saying it failed to turn a profit despite revenue nearly tripling from a year earlier. Groupon shares were listed on the Nasdaq on November 4 in a blockbuster public offering that raised a whopping $700 million and triggered fears that investors may be foolishly overvaluing hot Internet startups. Groupon, which rejected a $6 billion takeover offer from Google a year ago, has enjoyed phenomenal growth since its founding in 2008 but has been dogged by questions about its business model and accounting methods.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today groupon stock slides despite quarterly profit Arab Today, arab today groupon stock slides despite quarterly profit

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today groupon stock slides despite quarterly profit Arab Today, arab today groupon stock slides despite quarterly profit

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday