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Technology Stocks : Groupon, Inc.

GRPN 17.94

-5.1%

Nov 7 9:30 AM EST

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To: stockman_scott who wrote (216)	3/30/2012 5:32:53 PM
From: Glenn Petersen	1 Recommendation of 480

Groupon screws the pooch: Groupon slashes 4th quarter results, shares dive Fri Mar 30, 2012 5:12pm EDT <SPAN class="articleLocation">(Reuters) - Groupon Inc ( GRPN.O) pared back revenue and net income for the fourth quarter, blaming higher refunds on deals for the sharp downward revision in its previously reported numbers. The company's shares plunged more than 10 percent in afterhours trading. The largest daily deals company said net income for the fourth quarter was reduced by $22.6 million, while revenue was $14.3 million lower. "The revisions are primarily related to an increase to the company's refund reserve accrual to reflect a shift in the company's fourth quarter deal mix and higher price point offers, which have higher refund rates," it said in statement. The company's shares were down to $16.59 in afterhours trading from a close of $18.38 on the Nasdaq. (Reporting by Edwin Chan; editing by Andre Grenon) reuters.com

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