Coupang Soars After Loyalty Perks Lift Sales Above Estimates
- Seattle-based online retailer reports first-ever annual profit
- Coupang seeking growth abroad as Chinese peers push into Korea
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Coupang Inc. jumped in late US trading after South Korea’s largest online retailer reported its fastest revenue growth since 2021.
Net revenue at Coupang rose 23% to $6.6 billion in the December quarter, beating an average analyst estimate of $6.4 billion. It reported a net income of $1.03 billion, although more than 80% of that stemmed from a one-time tax accounting gain.