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Tuesday, August 14, 2012

BUZZ Before the Bell: Groupon CRASHES 21%, Apple Near All-Time High

BUZZ Before the Bell: Groupon CRASHES 21%, Apple Near All-Time High

Shares of Groupon (NASDAQ:GRPN) are plunging 21 percent in early morning hours. The company reported second quarter earnings of $28.4 million, compared to a net loss of $107.4 million a year earlier. However, revenue was lower-than-expected at $568.3 million. “We had a solid quarter despite challenges in Europe and continued investment in technology and infrastructure,” said Andrew Mason, chief executive officer. “We’ve deepened our relationships with a growing base of merchants and customers worldwide, demonstrating progress as we work to unlock the opportunity in local commerce.”

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