Submitted by Fox First at Ten on November 9th
By The Associated PressAP Technology Writer
NEW YORK (AP) - DEALS DRAG: Online deals company Groupon Inc. failed to show investors on Thursday that its business is growing as quickly as they would like, as it was hurt by economic problems in Europe.
BY THE NUMBERS: Groupon booked a smaller loss of $3 million, compared with $54.2 million the year before. Adjusted profit of 3 cents per share matched expectations, but revenue of $569 million missed.
GROWTH SLOWS: Groupon's growth rate has steadily declined: In the fourth quarter of 2011, revenue nearly tripled. That rate fell to 89 percent in the first quarter of this year, 45 percent in the second and 32 percent in the third.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
