Groupon reports quarterly net loss, shares drop (Reuters)

(Reuters) ? Groupon Inc reported a quarterly net loss Wednesday as the largest daily deal company recorded higher taxes overseas.

Shares of the Chicago-based company slumped 11 percent to $21.86 in after-hours trading following the results.

Groupon, unveiling its first results as a public company, said its fourth-quarter net loss attributable to common stockholders was $42.7 million, or 8 cents a share. That compares to a loss of $378.6 million, or $1.08 a share, a year earlier.

On an adjusted basis, Groupon reported a fourth-quarter loss of 2 cents a share. Revenue was $506.5 million, up 194 percent from the final quarter of 2010.

Groupon was expected to make 3 cents a share profit on revenue of $475 million in the fourth quarter, according to Thomson Reuters I/B/E/S.

(Reporting By Alistair Barr in San Francisco; Editing by Bernard Orr and Tim Dobbyn)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120208/bs_nm/us_groupon

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