News Summary: Groupon 3Q revenue falls short

News Summary: Groupon stock tumbles after-hours on weaker-than-expected 3rd-quarter revenue

Associated Press
News Summary: Groupon 3Q revenue falls short
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In this Thursday, Sept. 22, 2011, photo, employees at Groupon pose in silhouette by the company logo in the lobby of the online coupon company's Chicago offices. Groupon Inc., the No. 1 online deals service, failed to show investors on Thursda, Nov. 8, 2012, that its business is growing as quickly as they would like, as it was hurt by what it called "continued challenges" from the economic weakness in Europe. (AP Photo/Charles Rex Arbogast)

NEW YORK (AP) -- DEALS DRAG: Online deals company Groupon Inc. failed to show investors on Thursday that its business is growing as quickly as they would like, as it was hurt by economic problems in Europe.

BY THE NUMBERS: Groupon booked a smaller loss of $3 million, compared with $54.2 million the year before. Adjusted profit of 3 cents per share matched expectations, but revenue of $569 million missed.

GROWTH SLOWS: Groupon's growth rate has steadily declined: In the fourth quarter of 2011, revenue nearly tripled. That rate fell to 89 percent in the first quarter of this year, 45 percent in the second and 32 percent in the third.

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