Groupon stock plunges on net loss

Welcome to the big leagues, Groupon. Shareholders punished the stock after the daily deals site posted a surprise loss for its first quarter as a public company.
Groupon reported a net fourth-quarter loss of $42.7 million, or 8 cents a share, on sales of $506.5 million.

Analysts polled by Thomson Reuters were expecting earnings of 3 cents a share on sales of $475 million. For the full 2011 fiscal year, Groupon lost $350.8 million on sales of $1.6 billion.

Investors ignored the strong revenue and focused on the earnings loss, sending Groupon (GRPN) shares down almost 11% in morning trading on Thursday.

The famously oddball Groupon CEO, Andrew Mason, spoke on a post-earnings conference call with analysts. But Mason stayed within the lines for his first earnings call, maintaining a serious tone throughout the discussion.
1,600% tax rate: Analysts jumped on an eye-popping figure in Groupon's report: a tax expense of $34.8 million in the fourth quarter, which the company said is an effective tax rate of approximately 1,600%.
That massive tax rate was the result of profits in "certain international countries," as well as income tax laws related to Groupon's new international headquarters in Switzerland.

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