CPNG - Coupang rises as quarterly results beat estimates

2023-08-08 16:10:11 ET

Coupang, Inc. ( NYSE: CPNG ) rose 2.3% after the close on Tuesday after reporting quarterly results.

Shares were little changed on the day.

Net revenue of $5.8B was up 16% YoY and compared to the estimate of $5.66B, while EPS of $0.08 compares to the estimated $0.05.

“We have only a single-digit share of a massive retail market,” Chief Financial Officer Gaurav Anand said in a statement.

“Our Active Customer growth accelerated while we continued to deliver record profitability, highlighted by 7.2% adjusted EBITDA margin in our Product Commerce segment. And over the trailing twelve months, we generated $2 billion of operating cash flow and over $1 billion of free cash flow.”

Free cash flow was $1.1B for the trailing twelve months, an increase of $2.2B from a year earlier.

Gross profit increased 32% YoY to $1.5 billion.

Gross profit margin was 26.1%, an improvement of 320 bps YoY, while net income was $145M, with a margin of 2.5%, an improvement of $221 million over last year.

CPNG is up 20% so far this year and down 6.6% in the past 12 months.

More on Couplang:

• Coupang: Ongoing Business Strategy Should Further Strengthen Competitive Position
• Coupang swings lower on investor concerns over profitability
• Coupang, Inc. ( CPNG ) Q1 2023 Earnings Call Transcript

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