Services
Groupon’s Disappointing Results Prompt Call for Management Change
Published:
Last Updated:
Groupon Inc.’s (NASDAQ: GRPN) fourth-quarter results were so bad that there is new talk about firing CEO Andrew Mason. The problem with this is that he and two others control the company’s voting shares.
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.
The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.