Groupon revises IPO filing

Daily deal site Groupon filed an updated S-1 with the SEC Wednesday that updated potential investors on its second-quarter results and did away with a unique measure of income that had come under fire.
* Revenue per subscriber dips in North America

* Groupon's merchant pool in North America shrinks

* Questions about dropped financial metric linger 

Adjusted consolidated segment operating income (ACSOI), was a measure the company intended to use to report profits while stripping out certain costs, most crucially online marketing expenses or the cost of adding new subscribers.

At the end of June, Groupon had 115.7 million subscribers, up from 10.4 million a year earlier. Revenue of $1.5 billion for the first half of 2011 was up from $131.5 million over the corresponding period in 2010. Higher expenses that accompanied the surge in revenue led to an operating loss of $219.7 million. In the second quarter alone, Groupon reported an operating loss of $102.5 million on $878 million in revenue.

Groupon, which intends to list under the symbol GRPN, has not yet decided on which exchange will win its coveted business.