Coupang, a technology and Fortune 200 company listed on the NYSE, reported its Q3 2024 financial results, revealing a 27% year-over-year increase in total net revenues to $7.866 billion, up from $6.184 billion in Q3 2023. The company's net income, however, declined by 30% to $64 million compared to $91 million in the same quarter of the previous year. The report highlighted the acquisition of Farfetch, a global luxury fashion marketplace, which contributed to the revenue growth. Coupang's Product Commerce segment, which includes core Korean retail and marketplace offerings, saw an 18% increase in segment adjusted EBITDA to $470 million. The Developing Offerings segment, which includes nascent offerings such as Coupang Eats and Coupang Play, reported a 21% decrease in losses. The company's future plans include continued investment in...Show More

Coupang, a technology and Fortune 200 company listed on the NYSE, reported its Q3 2024 financial results, revealing a 27% year-over-year increase in total net revenues to $7.866 billion, up from $6.184 billion in Q3 2023. The company's net income, however, declined by 30% to $64 million compared to $91 million in the same quarter of the previous year. The report highlighted the acquisition of Farfetch, a global luxury fashion marketplace, which contributed to the revenue growth. Coupang's Product Commerce segment, which includes core Korean retail and marketplace offerings, saw an 18% increase in segment adjusted EBITDA to $470 million. The Developing Offerings segment, which includes nascent offerings such as Coupang Eats and Coupang Play, reported a 21% decrease in losses. The company's future plans include continued investment in technology, logistics, and fulfillment infrastructure, with several billion dollars expected to be spent over the next few years. Coupang's liquidity remains strong with $6.0 billion in cash, cash equivalents, and restricted cash as of September 30, 2024, and the company believes it has sufficient liquidity to meet its cash requirements for at least the next 12 months.