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VOL. 127 | NO. 65 | Tuesday, April 03, 2012

Groupon Restatement Sparks More Worries

AP

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NEW YORK (AP) – Groupon's announcement that its revenue and earnings were lower than what it reported in February is sparking fresh worries about its business model.

Trouble arose when the young online deals site said late Friday that it needed to increase the money it set aside for refunds. Now, investors are selling, and some analysts are wondering if Groupon will be able to outgrow its growing pains.

Others say it's just a hiccup for a fast-growing company that basically created the daily deals market.

This isn't the first time that Groupon has had to change its accounting. Last year it got in trouble for reporting its gross billings, not just the money it gets to keep from its deals, as revenue.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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PROPERTY SALES 87 87 14,804
MORTGAGES 80 80 19,410
FORECLOSURE NOTICES 21 21 3,817
BUILDING PERMITS 142 142 35,472
BANKRUPTCIES 62 62 14,096
BUSINESS LICENSES 62 62 5,053
UTILITY CONNECTIONS 99 99 21,532
MARRIAGE LICENSES 37 37 4,594

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