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Last updated: February 16. 2013 4:44PM - 59 Views

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(AP) Groupon's stock hit another low, days after the online deals company issued a lackluster quarterly report.


Groupon Inc. fell 32 cents, or 6 percent, to close Thursday at $5. Earlier it hit $4.97, its lowest level since its initial public offering in November. The stock's IPO price was $20, so it has lost 75 percent of its value.


On Monday, Groupon reported its first-ever quarter-to-quarter decline in gross billings. That's a closely watched number because it measures how much money is collected from merchants.


The number of active customers grew just 3 percent from the first quarter. The average spending per customer over the past 12 months was $165. That's down from $179 in the first quarter.


Benchmark analyst Clayton Moran downgraded Groupon's stock Tuesday. He called the results "discouraging."


Associated Press
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