Groupon Stock Slides 4.4% Premarket After Revenue Miss

By Ciara Linnane Markets MarketWatch Pulse

Groupon Inc. shares fell 4.4% in premarket trade Wednesday, after the company posted another loss for its second quarter as revenue fell short of estimates. The coupon company said it had a net loss of $9.3 million, or 2 cents a share, in the quarter, narrower than the $54.9 million loss, or 10 cents a share, posted in the year-earlier period. On a non-GAAP basis, the company said it had per-share earnings of 2 cents, compared with a FactSet consensus of breakeven. Revenue fell to $662.6 million from $723.8 million, below the FactSet consensus of $669 million. The company said it still expects full-year gross profit of $1.30 billion to $1.35 billion. Shares have gained 17% in 2017 through Tuesday, while the S&P 500 has gained 10.6%.

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