Boston, MA, 11\/21\/2013 (wallstreetpr) \u2013 USA-based global e-commerce giant Groupon, Incorporated (NASDAQ:GRPN)<\/b> posted good third-quarter revenues. While revenue increased by 5% to about $595.1 million in the third quarter of 2013, compared with $568.6 million for the corresponding 2012 quarter, Groupon\u2019s gross profit stood at $359.6 million in the third quarter 2013, as against $386.8 million in the third quarter 2012, registering a 7% gross profit decline. Operating income at $13.8 million for the third quarter of 2013 fell about 45.6% below the $25.4 million a year ago.<\/p>\n
Gross billings increased 10% globally to $1.34 billion in the third quarter 2013, compared with $1.22 billion in the third quarter 2012. North America growth of 20% and EMEA growth of 12% was offset by a 13% decline in Rest of World.<\/p>\n
The daily deals firm recently acquired Korea-based Ticket Monster for about $260 million from its Asian competitor, Korea-based Living Social, with a view to diversifying its mobile commerce operations in Asia. Groupon, Incorporated (NASDAQ:GRPN) <\/b>has further plans to acquire greater stake in Living Social Korea. The global e-commerce giant also announced the launch of its Freebies option in the USA, with ambitious plans to expand abroad by 2014. The product, a new marketplace category on its ecommerce portal encompassing money-saving options such as digital coupons, promotion codes and giveaways among others, supports a diverse brand range that includes over five thousand brands and will enable online shoppers to benefit during purchases at online stores of their favourite brands.<\/p>\n
The stock tanked on news filtering in through mandatory SEC filings that Chairman Ted Leonsis, its co-founder Brad Keywell and most notably, CEO Eric Lefkofsky\u2019s divested shares in excess of 4.5 million last week for approximately $4.7 million. Despite this sell-off, Lefkofsky remains the technology firm\u2019s largest shareholder, with over 108 million shares still in his possession.<\/p>\n
Such selling by insiders led to nervous selling by other investors also. Groupon, Incorporated (NASDAQ:GRPN)<\/b>\u2019s stocks fell 6.11% to $9.22 in their latest NASDAQ trade close on November 20, from a previous close of $9.82. The shares were trading around the closing figure, with a minor jump to $9.23 during after hours.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA, 11\/21\/2013 (wallstreetpr) \u2013 USA-based global e-commerce giant Groupon, Incorporated (NASDAQ:GRPN) posted good third-quarter revenues. While revenue increased by 5% to about $595.1 million […]<\/p>\n","protected":false},"author":32,"featured_media":12647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1942],"tags":[832,4136,833],"stock_ticker":[],"class_list":["post-12646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-groupon","tag-incorporated-nasdaqgrpn","tag-nasdaqgrpn","entry"],"acf":[],"yoast_head":"\n