Groupon (GRPN) reported the fiscal 2012 second quarter results on Monday. The second quarter revenue fell short of the Wall Street’s average estimate. GRPN stock price dived in the after-hours trading session.
The earnings report shows that Groupon grew the second quarter revenue to $568.3 million from $392.6 million for the same period last year, representing an increase of 45%, but below Wall Street’s average estimate of $573 million.
Groupon said that as the euro and British pound fell, excluding the exchange rate changes, the reported revenue was $32.4 million lower than the actual value.
Revenue only reached the lower end of the Groupon’s expected range, said by Herman Leung, an analyst at Susquehanna Financial.
Groupon issued a worse-than-expected guidance for the third quarter. Groupon said the third quarter operating profit will be between $45 million and $65 million, dollars, lower than the analysts’ expectation range of $70 million to $80 million
GRPN stock price moved up 1.48%, or 0.11, to close at $7.55, on a volume of 30.85 million shares versus its daily average of 8.27 million shares. In the after-hours trading session, GRPN stock price plummeted 19.74%. Since the beginning of this year, GRPN stock price has lost 63.4%.