CPNG - Coupang Stock is Down 70% From Its High. Time to Buy?
2023-03-06 09:31:45 ET
Coupang (NYSE: CPNG) , one of the largest e-commerce companies in South Korea, posted its fourth-quarter report on Feb. 28. Its revenue rose 5% year over year (and 21% in constant currency terms) to $5.3 billion, but missed analysts' estimates by $70 million. It generated a net profit of $102 million, compared to its net loss of $405 million a year earlier, while its earnings of $0.06 per share cleared the consensus forecast by two cents.
That marked its second consecutive quarter of profitability on a generally accepted accounting principles ( GAAP ) basis. On an adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) basis, it posted a profit of $211 million compared to a loss of $285 million a year ago.
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Coupang Stock is Down 70% From Its High. Time to Buy?