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Feb. 18, 2020, 6:22 p.m. EST

Groupon plans reverse-stock split, names new CFO

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By Jon Swartz

Groupon Inc. /zigman2/quotes/207356672/composite GRPN +1.63% shares were down 25% in extended trading Tuesday after the online marketplace reported disappointing fourth-quarter revenue and said it planned to exit the Goods category so it can focus on the $1 trillion "local experiences" market. The company also named Melissa Thomas its chief financial officer, and said it plans to pursue a reverse-stock split to boost the price of its stock. Groupon reported net income of $77 million, or 13 cents a share, in the quarter, compared with net income of $46.2 million, or 8 cents a share, in the year-ago fourth quarter. Revenue plunged 23% to $612.3 million from $799.9 million a year ago. Analysts surveyed by FactSet had expected earnings of 12 cents a share on sales of $705 million. Groupon shares are down 13% over the last 12 months. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.24% has gained 21% ocer the past year.

/zigman2/quotes/207356672/composite
US : U.S.: Nasdaq
$ 31.84
+0.51 +1.63%
Volume: 375,787
Nov. 27, 2020 1:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$917.39 million
Rev. per Employee
$349,711
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/zigman2/quotes/210599714/realtime
US : S&P US
3,638.35
+8.70 +0.24%
Volume: 1.22B
Nov. 27, 2020 2:07p
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