Groupon slumps on downbeat ITG Research note

|By:, SA News Editor

ITG says its checks indicate Groupon's (GRPN -3.9%) Q3 U.S. growth has slowed considerably, and that gross billings growth has turned negative.

Strong North American numbers were the main reason for the market's euphoric response to Groupon's Q2 results. The company's Q2 NA revenue (62% of total revenue) rose 45% Y/Y, and its billings 30%. That more than offset continued weakness in Groupon's international ops.