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Groupon Slides After-Hours As Q2 Results Report Below The Street


Groupon shares plunged in after-hours trading on Tuesday after the company reported second quarter results that fell short of analyst estimates. The coupon company posted profits of one penny a share, in line with analyst forecasts. However, Revenue came in at $742 million, that was $10 million below estimates. One area that saw a boost this quarter was the vouchers and products sold by the online deal website which saw a 79% increase year-over-year to $83 million. The daily deals and e-commerce website is working hard to become a premiere online shopping destination as it recently named former LinkedIn executive Parker Barrile as Senior Vice President of Product. The Street's Kathryn Mykleseth reports from New York.