Groupon reports first quarterly net profit

Reuters News
Posted: May 14, 2012 9:06 PM

SAN FRANCISCO (Reuters) - Groupon Inc reported its first quarterly profit on Monday as the world's largest daily deal company reined in marketing spending.

First-quarter pro-forma net income, which excludes option expenses, was 2 cents per share, versus a net loss of 41 cents a share, a year earlier. Revenue was $559.3 million, compared with $295.5 million in the first quarter 2011.

(Reporting by Alistair Barr; Editing by Richard Chang)