- Coupang Inc (NYSE: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.
- Photo via Wikimedia Commons
