» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 127 | NO. 65 | Tuesday, April 03, 2012

Groupon Restatement Sparks More Worries

AP

Print | Front Page | Email this story | Comments ()

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 This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 70 224 13,880
MORTGAGES 105 298 18,124
FORECLOSURE NOTICES 16 55 3,560
BUILDING PERMITS 0 430 32,733
BANKRUPTCIES 81 211 13,214
BUSINESS LICENSES 23 68 4,773
UTILITY CONNECTIONS 103 307 20,206
MARRIAGE LICENSES 39 72 4,269

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.