Groupon (NASDAQ:GRPN) announced that it earned a profit in the third quarter, beating analyst estimates. The company eported a profit of $1.6 million versus a net loss of $10.6 million in the same period last year. Revenue increased by 32.2% from the same period lsat year to $568.6 million. ANalysts had expected earnings of one cent per share on revenue of $530.8 million.
Shares are lower by over 29 percent.
Groupon's market cap is now roughly $1.82 billion, less than a third of the $6 billion that Google (NASDAQ:GOOG) was reportedly ready to offer the company in a buyout a year ago.
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