Groupon took it on the chin Friday after reporting earnings and revenue that missed analyst estimates. The company posted a breakeven quarter while analysts were expecting earnings of $0.03 per share. Revenue increased 32% year-over-year to $568.8 million, short of the average analyst estimate of $589.4 million.
Geographically, North American revenue was up 81% from the prior year while international remained sluggish with 3% growth. Management said that it sees international performance getting stronger as it improves deal mix, personalization and mobile support, although it would not promise better performance in the next quarter.
Groupon hit the NASDAQ just over a year ago, with an IPO priced at $20 per share, with investors initially driving the price up to $28. Shares have since lost roughly 90% of their value as investors remain unimpressed with the company’s ability to grow its profitability and its presence overseas.
Groupon (GRPN : NASDAQ : US$2.76), Net Change: -1.16, % Change: -29.59%, Volume: 116,189,088