Daily deals site Groupon today issued a pretty significant revision of the financial results it previously reported for the fourth quarter and the full year of 2011.
According to the company, it actually made $ 14.3 million less in revenue during the fourth quarter of 2011 than it previously reported — $ 492.2 million, compared to the previously stated $ 506.5 million. It also spent more in operating expenses than it previously said it did — resulting in its Q4 operating income and net income being $ 30 million and $ 22.6 million less, respectively, than the company initially said it was.
TechCrunch
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