Coupang Shares Drop As Net Loss Expands 87% In Q3

  • Coupang Inc CPNG reported third-quarter FY21 revenue growth of 48% year-on-year to $4.6 billion. Active customers grew 20% Y/Y.
  • Coupang added 8 million square feet of infrastructure YTD in 2021.
  • Fulfillment center infrastructure for Rocket Fresh, Coupang's fresh grocery offering, increased by nearly 90% YTD through Q3 and is on track to double in 2021.
  • Coupang Eats is the most downloaded mobile app for Apple Inc's AAPL iOS and the second most downloaded mobile app for Android in Korea in 2021 to date.
  • Gross profit increased 62% Y/Y to $754.5 million, and the gross margin expanded 130 basis points to 16.2%.
  • The net loss widened to $(323.98) million from $(172.99) million last year. EPS loss for the quarter was $(0.19), missing the consensus of $(0.17).
  • Coupang held $4.3 billion in cash and equivalents.
  • Coupang used $207.8 million in operating cash flow during the nine months ended September 30.
  • Price Action: CPNG shares traded lower by 3.46% at $28.18 in the premarket session on the last check Friday.
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