Groupon reduces losses, but still runs below the market

One of the largest online coupon services Groupon discloses its quarterly figures. In the III quarter of 2012 Groupon's net loss amounted to $2.98M against $54M for the same period of last year.

The company's revenue grows by 32% - in the last quarter it was $568.6M, but it is still lower than expected: analysts polled by Bloomberg expected $591M.

American Groupon earned $276.9M on international users, which corresponds to 49% of total revenue. Compared to the II quarter of 2012, the sales abroad fell by 10%, while in the U.S. they grew by 80%. The European market has become the main problem for Groupon because of the falling demand for online coupons caused by the crisis, an analyst at B.Riley&Co Sameet Sinha believes.

Groupon intends to lay off 80 salespeople and marketers. In total, the company employs about 12,8K people and most of them are the specialists in sales and marketing. They collect all the coupon offers from bars, fitness clubs, training centers, etc., offering discount coupons to users and having a percentage of sales.

Groupon expects the revenue of 625-675 M USD this quarter.