The multimillion dollar company, the Groupon has reported a net loss than expected for the third-quarter, the Market Watch reported.
Groupon
GRPN -15.82% reported
a net loss of $2.98 million, or break-even on a per-share basis,
compared to a net loss of $54.2 million, or 18 cents a share, for the
same period last year. Revenue rose 32% to $568.6 million, while gross
billings rose 5% to $1.22 billion. Analysts were expecting earnings of 3
cents a share on revenue of $591 million, according to consensus
forecasts from FactSet. “Our solid performance in North America was
offset by continued challenges in Europe,” Groupon CEO Andrew Mason said
in a statement Thursday.
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