Groupon’s Disappointing Results Prompt Call for Management Change

Fourth-quarter consolidated revenue totaled $638.3 million, up 30% year-over-year, but that was not as spectacular as Wall St. had hoped. The fourth-quarter GAAP loss per share of $0.12, including $0.07 loss per share from a non-operating item, compared with a loss per share of $0.12 in fourth quarter of 2011.

But the thing investors liked the least was that revenue for the first quarter 2013 is expected to be between $560 million and $610 million, an increase of between 0% and 9% compared with first quarter of 2012. Shares sold down as much as 14% on the news.

A look at Groupon’s proxy shows Mason owns 19.5% of voting shares, while Chairman Eric P. Lefkofsk owns 27.7% and Bradley A. Keywell owns 10%. Mason will not be going anywhere unless his co-founders turn against him.