Groupon Reports $9M Quarterly Loss

    CHICAGO, IL - JUNE 10:  Workers work on projects at Groupons international headquarters on June 10, 2011 in Chicago, Illinois. Groupon, a local e-commerce marketplace that connects merchants and consumers by offering goods and services at a discount, announced June 2 that it had filed with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock. The company, launched in Chicago in November 2008 now markets products and services in 43 countries around the world.  (Photo by Scott Olson/Getty Images)

    Scott Olson / Getty Images

    Groupon’s first financial results since it went public sent investors scrambling to ditch their shares in the daily-deal company, which reported a fourth-quarter loss of $9.8 million. The company attributed the loss to high tax rates for its overseas operations and misguided marketing strategies. However, it surpassed analysts’ expectations in its revenue for the quarter, which jumped 194 percent from a year earlier. Groupon also claims to have 20 percent more users now—33 million worldwide—than it did a year ago. “This quarter’s results show that our model is just starting to demonstrate leverage—and that Groupon is the clear leader in our space,” despite competition with Google+, the company’s CFO told The New York Times.

    Read it at New York Times