Groupon disappoints on weak Q2 revenue of $751.6M, and investors quickly send it packing

Updated 4:33 p.m. with non-GAAP earnings per share instead of GAAP.

Groupon today reported disappointing second quarter results for the 2014 fiscal year, with revenue of $751.6 million and earnings per share of $0.01.

Analysts expected Groupon to post earnings per share of $0.01 and revenue of 761.80 million this quarter, up year over year from a loss per share of $0.01 and revenue of $608.7 million.

Before the closing bell, Groupon stock was slightly up by less than 1 percent. In after-hours trading, the company is down a whopping 17 percent.

Mobile growth appears to be Groupon’s one redeeming quality; the company claims to mobile transactions reached an “all-time high in June 2014. Nearly 92 million people have now downloaded Groupon mobile apps worldwide,” the company reports.

Groupon made two acquisitions this calendar year: The firm reportedly dropped $43 million on flash-sale fashion site Ideeli in January, and in June it acquired mobile coupon rebate app SnapSaves for an undisclosed sum.