CPNG

Coupang, Inc.

16.80
USD
1.88%
16.80
USD
1.88%
8.98 30.94
52 weeks
52 weeks

Mkt Cap 26.56B

Shares Out 1.58B

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Coupang delivers stronger than expected profits, raises full-year forecast

Coupang (NYSE:CPNG) shares rose in Wednesday’s extended session after posting a lighter than expected loss and raising EBITDA guidance. For the second quarter, total gross profit came in at $1.2B, a 75% increase from the prior year, while gross profit margin improved over 250 basis points sequentially. Active customers on the South Korean eCommerce platform also rose to 17.89M by the close of the quarter, up from 17.02M in 2021. A $0.04 loss per share was less than half the loss anticipated by analysts while a positive adjusted EBITDA report of $66M for the quarter also surprised to the upside, turning into the black for the first time in 2022. “We’re pleased to report that we achieved positive adjusted EBITDA on a consolidated basis, generating $66M across the entire business, improving $157M from the prior quarter. Over the past two quarters, we’ve driven a total improvement of over $350M, a reflection of our continued execution across the company,” CFO Gaurav Anand said. “At the beginning of the year, we provided guidance of total company adjusted EBITDA losses below $400 million for 2022. We are now raising that guidance to achieve positive adjusted EBITDA for the full year.” Read the full commentary from management on the quarter.

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