Groupon posts US$3m Q3 loss despite 32pc revenue growth

9 Nov 20121 Share

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While daily deals site Groupon’s revenues increased 32pc to US$568.6m, the progress has been marred by a US$3m loss due to an acquisition-related charge of US$25.1m.

The e-commerce company reported operating income of US$25.4m in the quarter compared with an operating loss of US$200,000 a year ago.

Operating cash flow decreased 35pc year-over-year to US$421.m, compared with US$64.4m last year.

“Our solid performance in North America was offset by continued challenges in Europe,” said Andrew Mason, CEO of Groupon.

“Groupon Goods has evolved into a second major category that our customers clearly love. With deals on everything from designer sunglasses to big-screen televisions to most-wanted toys, we think it will be a great gifting destination this holiday season,” Mason said.

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com