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Latest Groupon Inc. Items
Groupon's stock is about 26 percent cheaper, but that doesn't make it a bargain.
Online deals website Groupon Inc. said Monday that its second-quarter earnings beat Wall Street's profit estimates, but it underwhelmed analysts with sales growth hurt by unfavorable currency movements.
Groupon became the latest of the newly traded tech companies to report quarterly earnings. Zynga and Facebook reported quarterly earnings that disappointed investors, while Yelp and LinkedIn followed with stronger results. Groupon beat expectations on earnings, but disappointed investors on revenue.
Groupon became the latest company to report quarterly earnings, and its revenue growth fell short of analyst estimates. Here is a summary of recent earnings and reports for selected technology companies and what they reveal about the state of spending and the overall economy:
The weak European economy contributed to lower sales growth than expected at Groupon Inc., and analysts expressed concern that the company is increasing revenue through the less-profitable business of actually selling items, rather just directing customers to great deals.
Several tech companies have reported their quarterly earnings, including Facebook for the first time as a public company. LinkedIn recorded strong results to counter disappointing earnings from other newly traded Internet companies _ namely Facebook and Zynga. Groupon reports next week.
Online deals company LivingSocial is adding merchandise to its offerings that until now have mostly been restaurant meals, weekend getaways and spa manicures.
Groupon's stock hit its lowest level Wednesday since the online deals company went public last November amid concerns about traffic to its website and its exposure to Europe's weak economy.
It's been a month since Facebook's IPO fell flat and in that time, the market for initial public offerings has collapsed.