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News Summary: Weak Europe hurts Groupon in 2Q

The Associated Press

NOW 20 PERCENT OFF: Groupon Inc. shares got even cheaper Monday after second-quarter revenue disappointed analysts. Shares fell 19.5 percent to $6.08 in after-hours trading.

EUROPE HEADWINDS: A weak euro and British pound trimmed sales, but Europeans spent less on deals for high-priced items like laser hair removal and luxury hotel sales as the economy got worse.

PROFIT BEAT: Despite outlook concerns, quarterly profits topped analysts' expectations. The company made net income of $28.4 million, or an adjusted 4 cents per share, beating the 3 cents expected.