U.S. Markets closed

Groupon Sees Weak Current Quarter But Expects Second-Half Growth

Groupon shares are being walloped after guidance for its second quarter came in lackluster. While revenue was in-line with estimates, earnings breakeven to 2 cents a share showed no growth from a year earlier and missed expectations of 3 cents a share. This is proving to be a trend for the internet company with healthy sales growth being undercut by consistently flat profits. However, management believes its marketing spend will help accelerate earnings growth in the second half of 2014.