More on the Groupon disaster: Europe is still weak - Q4 international revenue -16% Y/Y (was +3%...

|By:, SA News Editor

More on the Groupon disaster: Europe is still weak - Q4 international revenue -16% Y/Y (was +3% in Q3), billings +6%. North America was better: revenue +109% (+81% in Q3), billings +51%. Direct revenue (e-commerce sales) rose to $225M, now 35% of revenue. But it produced just $6.6M in gross profit. This led gross margin to fall to 55.7% from 80.4% a year ago. Marketing spend -61% Y/Y to $60.9M, SG&A +20% to $307.6M. Capex $40M in Q4, $96M in 2012. Headcount fell by 472 to 11.4K. GRPN -19.9% AH. CC at 5PM ET (webcast). (PR) (slides)