Groupon's (GRPN) Q/Q revenue growth over the last 6 quarters, per Scott Austin: 72%, 97%, 10%, 14%, 14%, 2%. Y/Y billings growth, meanwhile, has fallen from 103% in Q1 to 39% in Q2, and active customer growth from 3.2M to 1.1M. Groupon blames the slowdown on European softness, which led international growth to fall by more than 2/3. Shares -18.2% AH and now down 69% from their IPO price. (CC webcast) (Q2 results) Update: More details here. Groupon claims a greater dependence on high-price discretionary deals in Europe played a role.