Top Groupon competitor LivingSocial is still burning money at an incredible rate, according to Amazon’s 10-Q.
LivingSocial had an operating loss of $96 million last quarter on revenue of $138 million. Amazon has a 29% stake in LivingSocial. As a result, it reports some of LivingSocial’s business results.
Sounds pretty bad, but on the plus side, revenue was up 133% on a year over year basis, while operating losses shrank by 27%.
For some context, analysts expect Groupon to generate $578 million in revenue for the June quarter with $73 million in operating income.
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Via: Bill Gurley