Groupon Inc Common Stock (NASDAQ: GRPN) is having a rough day in the market today, and for good reason. The company reported sales results from the most recent quarter, and unfortunately sales have missed the mark. This led to fear among investors, causing the stock to fall. Of course, our partners at Trade Ideas were the first to alert us to the declines. At the moment (10:00), GRPN is trading at $3.47 per share after a loss of $0.53 per share or 13.13% thus far today.
GRPN Sales Miss The Mark
As mentioned above, Groupon is having an incredibly rough day in the market today after reporting a decline in sales. The company reported a total loss of $24.4 million. That works out to be $0.04 per share. While earnings came out relatively positive, revenue proved to be a miss.
In fact, revenue fell by 3% in the quarter. The figure fell from $698.4 million a year ago to $673.6 million last quarter. It was expected that revenue would come in at $722 million, showing that GRPN missed the mark in a big way.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on GRPN. In particular, we’re interested in what the company plans to do to bring sales back upward. Of course, if nothing is done, chances are that declines will continue. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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