News Formal

Groupon's stock craters as CEO says business 'continues to be challenged'

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Company announces $80 million rights offering

Groupon Inc. shares tumbled more than 35% in Thursday’s extended session after the discounting marketplace announced a new rights offering and acknowledged “challenged” business conditions.

Groupon GRPN, -2.73% also posted third-quarter results, showing revenue down to $126.5 million from $144.4 million a year prior and slightly below the $129.7 million FactSet consensus, which is based on estimates from three analysts. “We are turning our focus to delivering projects across product, engineering, sales, marketing and revenue management that we expect will reinvigorate our marketplace and position our business to return to growth,” interim CEO Dusan Senkypl said in a release.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

President Biden's AI executive order has 'dangerous limitations,' says deepfake detection company CEOReality Defender CEO Ben Colman raised concerns about President Biden's executive order, warning that watermarking is a 'Band-Aid' for AI-generated content.
Source: FoxBusiness - 🏆 458. / 53 Read more »