CPNG - Why Coupang Soared 32.3% in February
2024-03-08 09:40:00 ET
Shares of South Korean e-commerce leader Coupang (NYSE: CPNG) rallied 32.3% in February, according to data from S&P Global Market Intelligence .
Coupang stock entered February on a low note, having dropped since the start of 2024. However, the company's fourth-quarter earnings brightened the mood, with the e-commerce company showing impressive growth and profit expansion.
In the fourth quarter, Coupang delivered 23% revenue growth, along with adjusted ( non-GAAP ) earnings per share of $0.08, up 167% year over year. Both figures beat analyst expectations, sending shares upward in the aftermath.
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Why Coupang Soared 32.3% in February