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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 This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 41 41 17,762
MORTGAGES 70 70 23,138
FORECLOSURE NOTICES 0 0 4,519
BUILDING PERMITS 0 0 42,157
BANKRUPTCIES 49 49 16,740
BUSINESS LICENSES 14 14 5,795
UTILITY CONNECTIONS 113 113 25,287
MARRIAGE LICENSES 18 18 5,399

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