CHICAGO (AP) _ Groupon Inc. (GRPN) on Monday reported a third-quarter loss of $16.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Chicago-based company said it had a loss of 3 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 1 cent per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The online daily deal service posted revenue of $495.6 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $524.8 million.
In the final minutes of trading on Monday, the company's shares hit $3. A year ago, they were trading at $3.36.