Why Coupang Shares Are Trading Higher After Hours - Coupang (NYSE:CPNG)

Coupang Inc CPNG reported first-quarter revenue growth of 22% year-over-year to $5.12 billion, +32% on a constant currency basis, missing the consensus of $5.25 billion.
Active customers increased by 13% Y/Y, and total net revenues per Active Customer improved by 8% Y/Y to $283.
The total gross profit was $1.04 billion (+42% Y/Y), and the gross margin expanded by 300 bps to 20.4%.
The operating loss contracted to $(205.71) million from $267.32 million a year ago.
Adjusted EBITDA loss contracted for the quarter to $(90.87) million from $132.97 million in 1Q21.
Product Commerce revenue of $4.94 billion (+20% Y/Y) and Developing Offerings revenue of $180.63 million (+65% Y/Y).
EPS was $(0.12), beating the consensus of $(0.17).
Net cash used in operating activities totaled $(249.03) million for Q1, versus $(150.48) million in 1Q21.
“We expect our focus on customer-driven innovations and operational excellence to continue to bear fruit in the quarters and years ahead,” commented Gaurav Anand, CFO of Coupang.
Price Action: CPNG shares are trading higher by 18.82% at $11.49 during the post-market session on Wednesday.
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Coupang Shares Soar Afterhours On Q1 Results, Clocks 22% Revenue Growth