Dive summary:

• Groupon's stock is getting pummeled at the opening bell due to a miss on Q2 revenue and revised forward revenue guidance.
• The company reported $568.3 million in Q2 revenue, up 45% from $392.6 million a year ago, but below what the street expected at $573.1 million.
• The company blamed the revenue miss partly on unfavorable foreign exchange rates.  CEO Andrew Mason said, “We had a solid quarter despite challenges in Europe and continued investment in technology and infrastructure.”
• Groupon has 38 million active customers, up from 23 million last year.

From the article:

Groupon shares are trading sharply lower Monday afternoon on a mixed financial report for the second quarter.

For Q2, the company reported revenue of $568.3 million, up 45% from $392.6 million a year ago, but below the Street consensus at $573.1 million. Non-GAAP profits were 8 cents a share, ahead of the Street at 3 cents. Note, however, that results include $33 million, or 4 cents a share, in non-recurring gains, which trims the beat down to a penny a share. On a GAAP basis, the company earned $28.4 million, or 4 cents a share – ergo, the company lost money in the quarter on a GAAP basis.