logo
Share SHARE
FONT-SIZE Plus   Neg

Groupon Revises Q4 And FY11 Results; Confirms Q1 Guidance - Quick Facts

Groupon Inc. (GRPN) announced a revision of its reported financial results for its fourth quarter and year ended December 31, 2011. Groupon also affirmed its guidance for the first quarter of 2012.

The revisions resulted in a reduction to fourth quarter 2011 revenue of $14.3 million. The revisions also resulted in an increase to fourth quarter operating expenses that reduced operating income by $30.0 million, net income by $22.6 million, and earnings per share by $0.04. Financial results for prior periods, including as of and for the nine months ended September 30, 2011, were not affected by the revisions, the company said.

The company stated that 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. The revisions have an impact on both revenue and cost of revenue.

Groupon affirmed its first-quarter revenue guidance in a range of $510 million to $550 million and income from operations guidance of $15 million to $35 million. Analysts polled by Thomson Reuters expect the company to report revenues of $533.79 million for the quarter. Analysts' estimates typically exclude special items.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Burger King has introduced a donut burger in Israel to celebrate the Jewish festival of Hanukkah. The burger will be called the SufganiKing, a play on the Hebrew word for donut, which is sufganiyot. The burger will be sold for about $4. Ciena Corp., a provider of communications networking solutions, on Thursday reported a turnaround to profit in the fourth quarter on higher revenues and lower expenses. However results for the quarter missed analysts' estimates. Looking ahead, the company forecast revenue for the first quarter of fiscal 2017 in line with analysts' expectations. Wearable fitness device maker Fitbit Inc. said it has acquired the assets of struggling smartwatch startup Pebble, including key personnel and intellectual property related to software and firmware development. The acquisition excludes Pebble's hardware products. Financial terms of the deal were not disclosed.
comments powered by Disqus
Follow RTT