CHICAGO (AP) _ Groupon Inc. (GRPN) on Tuesday reported a loss of $40.2 million in its second quarter.
On a per-share basis, the Chicago-based company said it had a loss of 7 cents. Earnings, adjusted for one-time gains and costs, were 1 cent per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The online daily deal service posted revenue of $532.6 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $565.7 million.
In the final minutes of trading on Tuesday, the company's shares hit $3.40. A year ago, they were trading at $4.81.