Groupon sees losses grow

Kate McCann
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DEAL site Groupon yesterday announced first quarter losses that exceeded the figure it lost a year previously.

The company saw its share price tumble in after-hours trading, after it reported a loss of $37.8m (£22m) on revenue of $757.6m for the first quarter of the year. A year ago, Groupon lost a penny a share on $601.4m in sales. The results showed movement on the group’s balance sheets, with total purchases made during the quarter up 29 per cent. However, operating costs rose to $405.6m from $357.8m.

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