GO
Loading...

Groupon Shares Skid After Downward Revision to Revenue

Friday, 30 Mar 2012 | 5:09 PM ET
Groupon
Getty Images
Groupon

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.



email: tech@cnbc.com

  Price   Change %Change
GROUPON
---

Featured

Contact Technology

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.