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Filing in Focus: Groupon 8-K, November 7, 2013
Groupon, Inc. (GRPN) announced its financial results for the third quarter of the fiscal year 2013, reporting modest revenue growth of 5%. Gross billings increased 10% to $1.34B while revenues modestly climbed to $595.1M. Groupon reported a net loss of $2.58M, a slight improvement from a $2.98M loss a year ago. Earnings per share in both this quarter and in the year-ago both remained flat at $0.00. The company also announced it will purchase the Korean firm Ticket Monster in a $260M deal involving $100M in cash and $160M in Groupon shares. CEO Eric Lefkofsky remarked that Groupon still has more work to do on its way to becoming a full e-commerce business and is pleased with its mobile improvements, with nine million app downloads.