Why Is Coupang (CPNG) Stock Shooting Higher Afterhours Today - Coupang (NYSE:CPNG)

Coupang Inc CPNG reported second-quarter revenue growth of 12.5% year-over-year to $5.04 billion, +27% on a constant currency basis, missing the consensus of $5.06 billion.
EPS was $(0.04), beating the consensus of $(0.11).
Active customers increased by 5% Y/Y, and total net revenues per Active Customer improved by 7% Y/Y to $282.
The gross profit was $1.15 billion (+75.2% Y/Y), and the gross margin expanded by 820 bps to 22.9%.
The operating loss reduced to $(75.49) million from $(518.6) million a year ago.
Adjusted EBITDA for the quarter was $66.17 million, compared to a loss of $122.15 million in 2Q21, and the margin for the quarter was 1.3%.
Product Commerce revenue of $4.9 billion (+13% Y/Y) and Developing Offerings revenue of $160.29 million (+10% Y/Y).
Net cash used in operating activities year-to-date totaled $(73.2) million for Q2 versus $(152.46) million in 2Q21.
“At the beginning of the year, we provided guidance of total company adjusted EBITDA losses below $400 million for 2022. We are now raising that guidance to achieve positive adjusted EBITDA for the full year,” stated Gaurav Anand, CFO of Coupang.
Price Action: CPNG shares are trading higher by 3.29% at $20.41 during the post-market session on Wednesday.

Coupang Shares Gain On Q2 Results, Raised FY Guidance