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Groupon Q3 Profit Misses Estimates; Shares Plunge

Groupon, Inc. (GRPN) reported third-quarter non-GAAP net income per share of $0.01 compared to $0.04, prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.03, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $50.0 million, down from $56.4 million, a year ago.

Third-quarter revenue was $495.6 million, down 16 percent (15 percent FX-neutral) from prior year. Analysts expected revenue of $525.43 million, for the quarter. Global units sold were down 9 percent to 35.8 million largely driven by fewer customers and lower traffic.

For the full year 2019, Groupon continues to project adjusted EBITDA of approximately $270 million.

Shares of Groupon were down nearly 10% after hours.

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