Coupang posts $8.9 billion revenue, missing analyst forecasts
Coupang’s quarterly revenue of $8.9 billion fell short of analyst expectations by $170 million.
The company’s revenue still increased 4% year over year on a reported basis and 10% in constant-currency terms.
Coupang posted a net loss of $570 million for the quarter, compared with a net profit of $32 million in the same period last year, due to $410 million in administrative fines.
Adjusted earnings came in at a loss of $0.09 per share, outperforming analyst estimates of a $0.21 loss.