Groupon?s Profit In 2011 Was Actually $22.6 Million Less Than They Previously Said

Daily deals site Groupon today issued a pretty significant revision of the financial results it previously reported for the fourth quarter and the full year of 2011. According to the company, it actually made $14.3 million less in revenue during the fourth quarter of 2011 than it previously reported -- $492.2 million, compared to the previously stated $506.5 million. It also spent more in operating expenses than it previously said it did -- resulting in its Q4 operating income and net income being $30 million and $22.6 million less, respectively, than the company initially said it was.

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