Groupon quarterly revenue misses expectations

Groupon Inc. (GRPN-Q) reported second-quarter revenue that missed Wall Street expectations on Monday, sending shares of the world's largest daily deal website down 14 percent.

Revenue was $568.3 million US, compared with $392.6 million in the second quarter of 2011, the Chicago-based company said.

Wall Street expected Groupon to report revenue of $573 million, according to Thomson Reuters I/B/E/S.

Earlier this year, Groupon forecast second-quarter revenue of $550 million to $590 million.

Groupon shares fell 14 percent to $6.50 in after-hours trading. The stock is down about 60 percent so far this year.