Coupang Q1 revenue up 23% to $7.1B; net income falls 95% to $5M on Farfetch losses

Coupang, Inc.

2024-Q1 EPS reported $0.00 revenue$7,114,000,000

Net revenues $7.1B (+23% YoY, +28% FX-neutral); gross profit $1.9B (+36%); net income $5M (-95% YoY) due to Farfetch losses of $93M.
Excluding Farfetch, net income was $98M; adjusted diluted EPS $0.05 (flat YoY).
Product Commerce active customers 21.5M (+16%); segment revenue $6.5B (+15% reported); segment adjusted EBITDA $467M (+$179M YoY).
Developing Offerings revenue $620M (+337%); segment adjusted EBITDA -$186M includes -$31M from Farfetch; CFO sees 2024 segment loss ~$750M.
Operating cash flow TTM $2.4B (+$1.2B YoY); free cash flow TTM $1.5B (+$1.0B YoY).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Coupang, Inc. reported first quarter ended March 31, 2024 results: revenue $7.1 billion, net income $5 million, EPS $0.00.

Period: first quarter ended March 31, 2024
Revenue: $7.1 billion
Net income: $5 million
EPS: $0.00
Result: reported results

Exact text from the filing

Act, except as shall be expressly set forth by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- Coupang Announces Results for First Quarter 2024 Net Revenues of $7.1 billion, up 23% YoY and 28% on an FX-neutral basis Gross Profit of $1.9 billion, up 36% YoY Operating Cash Flow of $2.4 billion and Free Cash Flow of $1.5 billion for the trailing twelve

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Source: SEC EDGAR

accession 0001834584-24-000040

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