The daily deals company disappoints Wall Street with a loss in its first-ever report as a public company.
NEW YORK (TheStreet) -- Groupon(:GRPN) shares plummeted nearly 15% in after-hours trading on Wednesday after the online daily deals company missed Wall Street's earnings expectations for its fourth-quarter results.
The company, which issued its first quarterly report as a public company since completing its IPO in early November, posted an adjusted loss of $9.8 million, or 2 cents a share. Revenue nearly tripled to $506.5 million.
Analysts were looking for adjusted profit of 3 cents per share and revenue of $475 million in the quarter. Groupon said its adjusted results reflect a negative impact of 7 cents a share from high taxes related to its international operations.
Groupon said its worldwide active customer base grew to over 33 million, up 20% over last quarter. The company defines active customers as those who have purchased a Groupon in the last 12 months.
More than 26 million people have downloaded the Groupon app on their smartphone.
For the current fiscal first quarter of 2012, Groupon forecast revenue of between $510 million and $550 million, and income from operations of $15 million to $35 million.
Groupon shares have struggled since the company's November IPO, which was marred by shake-ups among Groupon's management team, scrutiny over its accounting metrics and concerns about its long-term ability to turn a profit.
The stock was last quoted at $22.40, down 9%, on volume of more than 2.4 million, according to Nasdaq.com.
--Written by Olivia Oran in New York.
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