Groupon cuts 2014 outlook, shares slide 12 percent
SAN FRANCISCO Aug 5 (Reuters) - Groupon Inc cut its full-year earnings outlook on Tuesday, citing the need to maintain a high level of marketing spending as the once-red-hot Internet coupons and marketing service attempts to become a more comprehensive online retailer.
The company's shares slid more than 12 percent to $6.20 in after-hours trading on the Nasdaq. Groupon says it now expects adjusted EBITDA of more than $270 million in 2014. It previously projected adjusted EBITDA of more than $300 million. (Reporting by Deepa Seetharaman and Edwin Chan)
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