Coupang Slides After Quarterly Profit Misses Estimates
- Shortfall overshadows stronger-than-expected sales growth
- E-commerce company’s Farfetch acquisition weighs on net income
An employee sorts a package transported by a sorting robot at a Coupang fulfillment center in Daegu, South Korea.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Coupang Inc., facing mounting competition in e-commerce, declined in late trading after first-quarter earnings came in shy of analysts’ estimates.
Adjusted earnings before interest, taxes, depreciation and amortization rose 17% to $281 million, the company said in a statement Tuesday. Analysts had projected $283.3 million. Net income plunged 95% after the company included losses from Farfetch Holdings Plc, the online luxury company it acquired in January.