CHANGE OF FORTUNES? Online deals company Groupon Inc. posted a smaller net loss and sharply higher revenue in the first quarter, helped by increased demand from a growing customer base.
STOCK UP: It was a welcome reprieve for the newly public company that’s seen its stock battered following a series of missteps with its finances. Shares soared nearly 18 percent after hours.
THE RESULTS: Its net loss was $11.7 million, or 2 cents per share. It posted a loss of $146.5 million, or 48 cents per share, a year earlier. Revenue grew 89 percent to $559.3 million
Views: 0