SAN FRANCISCO Aug 5 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)