On August 2, in pre-market trade, Groupon Inc. (NASDAQ:$GRPN) shares dropped 4.4%. Why? It all started after the Chicago, Illinois-based company reported another loss for its second quarter, as revenue did not meet expectations.
According to the coupon company, Groupon Inc. had a net loss of $9.3 million (2 cents a share) in the quarter, which is much narrower than the $54.9 million loss (10 cents a share) reported in the 2016 period.
In terms of a non-GAAP basis, the company announced that it had per-share earnings of 2 cents, which compared with a FactSet consensus of “breakeven”. Further, revenue dropped from $723.8 million to $662.6 million, which is below the FactSet forecast of $669 million.
In regards to the company’s outlook for the year, Groupon still forecasts a gross profit between $1.30 billion to $1.35 billion.
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