Groupon Falls After Unexpected Tax-Related Quarterly Loss
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Groupon Inc., the largest daily-deal site, tumbled as much as 14 percent today after reporting a tax-related fourth-quarter loss that analysts hadn’t predicted.
Groupon fell 10 percent to $22.04 at 9:57 a.m. New York time after yesterday reporting a loss, excluding certain costs, of 2 cents a share. Analysts surveyed by Bloomberg had projected profit of 3 cents. Today’s is the biggest intraday decline since Nov. 23. The company priced its initial public offering at $20 a share Nov. 3.