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You know -- company right reporting earnings yesterday and even with some increased revenue investors still seem to be quite worried as the stock is getting hammered today down twenty some percent.
We have -- said -- here in the studio with the details fourth spent.
It also shares hit new lows today after the company reported second quarter results -- their sparking concerns over the company's future.
The daily deals website actually beat expectations with a profit of eight cents a share its first quarterly profit.
As a public company -- revenue was lower than expected up just 2% from the first quarter and the total amount of money Groupon pulls in.
Before paying merchants also fell 5%.
CEO Andrew Mason says one of the problems is that Europe comprises the bulk of group bonds overseas operations.
And Groupon has more high priced offers in Europe and even North America but there's much less demand lately in Europe for things like laser hair removal or.
Luxury hotel states.
Because of the deteriorating economic conditions there the other issues that people seem to be getting tired of the Internet coupon things so most of the gains in this quarter were actually.
Salads sold by -- on goods which is where the company sells products rather than these coupons but this group on goods areas actually pretty low margin so.
-- company may be profitable and investors are really looking at here.
Is its growth prospects in this report didn't do very much to boost confidence there keep in mind.
It IPO in November at twenty dollars to a share today it's -- 569 when he it's below six dollars so.
People invested -- -- have a lot of ground to yes.
That is absolute -- side Diane thank you kinda -- -- -- nine Groupon dated.
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