Coupang Inc

Latest Results (17.12.2024):

Revenue Growth

Coupang Inc. reported net revenues of $7.9 billion for the third quarter of 2024, marking a 27% increase year-over-year on a reported basis and a 32% increase on an FX-neutral basis. Excluding the impact of Farfetch, the growth was 20% year-over-year on a reported basis and 25% on an FX-neutral basis.

Profitability

The company achieved a gross profit of $2.3 billion in Q3 2024, which represents a 45% increase compared to the same period last year. The gross profit margin improved by 350 basis points year-over-year to 28.8%. Excluding Farfetch, the gross profit was $2.1 billion, growing 33% year-over-year, with a margin of 28.1%.

Net Income

Coupang Inc. reported a net income of $64 million for the third quarter of 2024, with net income attributable to Coupang stockholders amounting to $70 million. This reflects a decrease of $21 million from the previous year. Excluding Farfetch, the net income attributable to Coupang stockholders was approximately $108 million for the quarter.

Earnings Per Share

The diluted earnings per share (EPS) for Coupang Inc. in Q3 2024 was 4 cents, a decline of 1 cent compared to the previous year. This decrease was primarily driven by operating losses incurred at Farfetch. Excluding the Farfetch loss, the diluted EPS was 6 cents.

Cash Flow

For the trailing twelve months, Coupang Inc. reported an operating cash flow of $1.8 billion, which is a decrease of $805 million year-over-year. The free cash flow for the same period was $935 million, down by $920 million year-over-year, primarily due to non-recurring working capital benefits in the prior period and the timing of capital expenditure payments.