Welcome to our dedicated page for Coupang news (Ticker: CPNG), a resource for investors and traders seeking the latest updates and insights on Coupang stock.
Coupang, Inc. (NYSE: CPNG) is a U.S.-based technology and retail company active in electronic shopping and related services, and its news flow reflects this broad scope. Public announcements describe Coupang as a Fortune 150 company providing retail, restaurant delivery, video streaming, and fintech services worldwide under brands such as Coupang, Eats, Play, Rocket Now, and Farfetch.
News about Coupang frequently centers on its quarterly financial results. The company regularly issues earnings releases and accompanying webcasts, detailing net revenues, gross profit, operating income, cash flow, and segment performance for its Product Commerce and Developing Offerings segments. These updates also highlight key business metrics such as Product Commerce Active Customers and net revenues per active customer.
Another major category of news involves technology and AI initiatives. Coupang has announced large-scale investments in AI, machine learning, robotics, smart logistics, and cloud computing, including the rebranding of its AI cloud computing service as Coupang Intelligent Cloud (CIC). It has also presented its vision for AI-driven commerce at events such as the APEC CEO Summit, emphasizing its role in supporting U.S. exports and international commerce.
Coupang’s news releases also cover partnerships and market expansions, such as collaborations with U.S. wellness brands entering South Korea through its platform and sponsorship agreements like its jersey patch partnership with the Washington Capitals. In addition, the company issues regulatory and governance updates through Form 8-K filings, including disclosures on material events and cybersecurity incidents.
Investors and observers who follow CPNG news can expect a mix of earnings announcements, technology and AI developments, international commerce initiatives, brand partnerships, and regulatory disclosures that together provide insight into Coupang’s evolving business and operations.
Coupang announced that CEO Bom Kim has adopted a pre-arranged stock trading plan to sell up to 15 million shares of Class A Common Stock starting November 11, 2024. The plan, established under SEC Rule 10b5-1, will terminate upon completion of sales or by August 29, 2025. Kim will also donate up to 2 million shares to a charitable fund. These transactions represent less than 10% of Kim's current 174.8 million Class B shares. After completion, Kim will retain 157.8 million Class B shares and doesn't plan further transactions through 2025.
Coupang reported strong Q3 2024 results with net revenues of $7.9 billion, up 27% YoY and 32% on an FX-neutral basis. Gross profit increased 45% YoY to $2.3 billion, with margin improving 350 bps to 28.8%. Net income was $64 million, with diluted EPS at 4 cents. Excluding Farfetch, net income was $108 million with 6 cents EPS. Product Commerce segment saw 16% YoY growth with 22.5 million active customers, while Developing Offerings segment grew 347% YoY. Operating cash flow was $1.8 billion for trailing twelve months.
Coupang (NYSE: CPNG) has announced that it will release its third quarter 2024 financial results on Tuesday, November 5, 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 (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%
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