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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] Coupang surpassed 9 trillion won in quarterly revenue for the first time in the first quarter of this year. However, operating profit significantly decreased, and the net profit turned into a deficit.
According to the first-quarter financial report submitted by Coupang Inc to the U.S. Securities and Exchange Commission (SEC) on the 8th (Korean time), Coupang's first-quarter revenue was 9.4505 trillion won ($7.114 billion, based on the quarterly average exchange rate of 1,328.45 won). Operating profit was 531 billion won ($400 million). Compared to the previous year, revenue (7.399 trillion won or $5.805 billion) increased by 28%, while operating profit (1.362 trillion won or $1.677 billion) decreased by 61%.
The net profit turned into a deficit, recording a net loss of 318 billion won ($240 million). This marks the first time since the second quarter of 2022 that Coupang has reported a quarterly net loss.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
