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The company's $559.3 million in revenues and a loss of $0.2 a share easily bested expected revenues of $530.8M and a loss of $0.4 cents per share. Groupon's stock, which had risen 18.5% on Monday, soared another 11% in after-hours trading on the news. A year ago, Groupon had posted a Q1 loss of 48 cents per share on revenues of $295.5 million.
Groupon had reported profits of $15 million in the fourth quarter of 2011, but later revised that to a $15 million loss after admitting to a "material weakness" in its financial controls that failed to accurately predict the amount of refunds customers would call in.
Meanwhile, Groupon's revenue share with merchants jumped from 40% last quarter to 41.3% in Q1.