Groupon Stock Hits Another Low after 2Q Results

SAN FRANCISCO (AP) -- Groupon's stock hit an all-time low on Wednesday as the online deals company continued to be punished by investors following a lackluster quarterly report this week.

Groupon Inc. fell 19 cents, or 3.5 percent, to close at $5.32. Earlier the stock hit $5.28, its lowest level since a November initial public offering. The stock's IPO price was $20.

On Monday, Groupon reported its first-ever quarter-to-quarter decline in gross billings. That's a closely watched number because it measures how much money is collected from merchants.

The number of active customers grew just 3 percent from the first quarter. The average spending per customer over the past 12 months was $165. That's down from $179 in the first quarter.

Benchmark analyst Clayton Moran downgraded Groupon's stock Tuesday. He called the results "discouraging."

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 166358656 -
Gray Television, Inc.