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New lows for daily deals firm Groupon

Published on Nov 10, 2012 6:26 AM
 
A man looks at an ad as he walks past a bus stop near the Groupon corporate headquarters in Chicago, Illinois, in this Nov 4, 2011 file photo. Groupon shares plunged to their lowest level since the online deals giant went public a year ago, as analysts offered a harsh response to a disappointing earnings report. -- PHOTO: REUTERS

NEW YORK (AFP) - Groupon shares plunged to their lowest level since the online deals giant went public a year ago, as analysts offered a harsh response to a disappointing earnings report.

Groupon tumbled 29.3 per cent to close at US$2.77 - down some 85 per cent from the public offering price in November 2011 of US$20.

Chicago-based Groupon on Thursday reported a loss of US$3 million (S$3.7 million) in results that came up shy of most analyst forecasts for a small profit.

Revenue increased 32 per cent year-over-year to US$568.6 million in the third quarter and was up 38 percent in constant currency.

 
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