Partner Article

Groupon shares slump by 20%

British online deals company Groupon have seen a 20% dip in trade after hours, and have lowered their quarter 3 estimates as a result.

Groupon saw their share price fall down to £6.05 on Monday in extended hours as the company reported a weakened European market.

In their half year report yesterday Groupon announced a net income in the second quarter of $28.4 million, which can be equated to 4 cents per share.

This income includes a charge to the company of $25.4 million for stock-based compensation and expenses related to acquisitions.

Andrew Manson, the CEO of Groupon commented: “We had a solid quarter despite challenges in Europe and continued investment in technology and infrastructure,”

The daily-deal company’s shares were hit after they predicted that their shares would come in at lower than wall street targets.

This was posted in Bdaily's Members' News section by Miranda Dobson .