Why Groupon's Stock Is Tumbling Today
Shares of Groupon (NASDAQ: GRPN) were falling 9% heading into midday trading Monday as fallout from the discount coupon site's first-quarter earnings report continued to impact the stock.
Although Groupon beat analyst earnings estimates by reporting an adjusted loss of $1.63 per share, some $0.28 per share better than what analysts had forecast, it missed revenue expectations with $371 million. "COVID-19 has had a major impact on our business and we have moved quickly to position Groupon to weather the pandemic and to help our merchants face these unprecedented challenges," interim CEO Aaron Cooper said.
Image source: Groupon.
Source Fool.com
