Coupang Slides After Third-Quarter Earnings Misses Estimates
- Despite disappointing profit, revenue beats projections
- Korea’s top online mall is stepping up investments in Taiwan
Korea’s largest online retailer reported net revenue of $6.2 billion for the September quarter.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Coupang Inc. slid in late US trading after third-quarter profit missed analysts’ estimates, overshadowing a better-than-expected 21% revenue surge and a record number of active customers.
Net income in the period was little changed at $91.3 million, compared with an average projection of $119 million. The company, South Korea’s largest online retailer, reported net revenue of $6.2 billion for the September quarter, beating an average analyst estimate of $5.9 billion.