By midafternoon, shares were down 8% to $30.08.
The digital coupons site earned 20 cents a share over the three months to March, a penny higher than analysts surveyed by Thomson Reuters forecast. Revenue of $61.3 million was 51.1% higher year over year, exceeding estimates by $5.7 million.
Management expects second-quarter revenue of $58 million to $60 million and fiscal 2014 revenue between $276 million and $282 million.
Analysts expected second-quarter revenue of $59.56 million and full-year revenue of $280.85 million.