Groupon Shares Skid After Downward Revision to Revenue

Friday, 30 Mar 2012 | 5:09 PM ET
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Groupon shares tumbled after-hours after the daily-deals site reduced its revenue for the fourth quarter due to customer returns.

Groupon reduced its reported fourth-quarter revenue by $14.3 million, which clipped earnings by about four cents a share, the company said on Friday.

The revision was primarily due to customer returns of big-ticket items, the company said in a statement.

The company reaffirmed its revenue for the first quarter, saying that it expects $510 million to $550 million.

The company's shares tumbled in after-hours trading.

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