Shares of Groupon (GRPN) lost another 30% of their value on Friday. On Thursday after the market close, the e-commerce market place reported its third quarter results.
Third Quarter Results
Groupon reported third quarter revenues of $568.6 million, up 32.2% on the year. Revenues fell short of the company's own guidance of $580 to $620 million. Analysts expected Groupon to report revenues of $590.1 million.
Worrisome is that revenue growth has stabilized on a quarter-to-quarter basis. Gross billings came in at $1.22 billion over the quarter, up 5% on the year.
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