Coupang Inc - CPNG STOCK NEWS

Coupang (NYSE: CPNG) reported its Q2 2024 results, showing notable growth in several key metrics. Net revenues rose 25% YoY to $7.3 billion, with a gross profit increase of 41% YoY to $2.1 billion. Product Commerce segment adjusted EBITDA reached $530 million with an 8.2% margin.

The company saw a net loss of $105 million, primarily due to Farfetch losses and an administrative fine. Excluding these, net income attributable to stockholders was about $124 million. Diluted EPS was negative $0.04, but excluding Farfetch and the fine, it was $0.07. Operating cash flow over the trailing twelve months was $2.2 billion, and free cash flow was $1.5 billion.

The Developing Offerings segment saw revenues of $892 million, up 472% YoY. However, adjusted EBITDA for this segment was negative $200 million, impacted by Farfetch.

Coupang (NYSE: CPNG) has announced that it will release its second quarter 2024 financial results on Tuesday, August 6, 2024, after the U.S. market closes. The company will also host a live webcast at 5:30 PM Eastern Time on the same day to discuss the results. Investors and interested parties can access the earnings release, presentation, and webcast through the Coupang Investor Relations website at https://ir.aboutcoupang.com. Following the call, a replay and related transcript will be made available on the same website for those unable to attend the live event.

Coupang has appointed Asha Sharma, Corporate Vice President and Head of Product, AI Platform at Microsoft, to its Board of Directors. Sharma's previous roles include Chief Operating Officer at Instacart and VP of Product at Meta. At Instacart, she led the company through its IPO and into profitability. At Meta, she helped scale Facebook Messenger to billions of users. Sharma holds a Bachelor of Science in Business from the University of Minnesota. Coupang's CEO Bom Kim expressed excitement about Sharma's appointment, highlighting her expertise in product and AI. Sharma also expressed her enthusiasm for joining Coupang, emphasizing its focus on customer experience and innovation.

Coupang, Inc. (NYSE: CPNG) reported strong financial results for the first quarter of 2024, with net revenues reaching $7.1 billion, up 23% YoY and 28% on an FX-neutral basis. Gross profit increased 36% YoY to $1.9 billion. Operating cash flow was $2.4 billion, and free cash flow was $1.5 billion for the trailing twelve months. Product Commerce segment net revenues grew 15% YoY to $6.5 billion. Developing Offerings segment net revenues surged 337% YoY to $620 million. Adjusted EBITDA for the quarter was $281 million, with a margin of 3.9%, and adjusted EBITDA for the trailing twelve months was $1.1 billion with a margin of 4.3%

Coupang, Inc. (CPNG) is set to announce its first quarter 2024 financial results on May 7, 2024. The release will include an earnings report, presentation, and webcast available on the Coupang Investor Relations website.

Coupang (CPNG) partners with the U.S. Department of Commerce and ITA to host webinars for women-owned businesses in the Food & Beverage and Apparel & Fashion industries aiming to access South Korea's consumer goods market.

Coupang, Inc. (CPNG) reports strong financial results for Q4 2023 with net revenues of $6.6 billion, up 23% YoY. Gross profit increased to $1.7 billion, with a margin of 25.6%. Operating cash flow was $2.7 billion, and free cash flow reached $1.8 billion for the full year. The company's total net revenues for FY2023 were $24.4 billion, showing an 18% YoY growth. Coupang's active customers surpassed 21 million, and the WOW membership program had 14 million paid members by the end of 2023.

Coupang, Inc. (CPNG) will announce Q4 2023 financial results on February 27, 2024, with a live webcast. The release will be available after the U.S. market closes.

Coupang, Inc. has completed the acquisition of Farfetch Holdings plc, providing access to $500M in capital. This allows Farfetch to continue delivering exceptional services for its brand and boutique partners and to more than four million customers globally. Leveraging Coupang’s operational excellence and logistics, Farfetch is now well-positioned for steady growth.