Coupang's first quarter 2026 results missed revenue estimates as the company swung to a net loss of $266 million.

Coupang reported first quarter revenue of $8.5 billion, an increase of 8% year-over-year, and a net loss of $266 million, reversing a profit from the prior year. Diluted EPS was -$0.15, a significant beat against highly negative consensus estimates but down from a profit of $0.06 in the same quarter last year.

Key Highlights

• The company reported a consolidated net loss of $266 million, a sharp decline from the $107 million in net income reported in the first quarter of 2025.
• The Developing Offerings segment saw strong revenue growth of 28% to $1.3 billion, but its adjusted EBITDA loss widened by $161 million to $329 million, weighing on overall profitability.
• Product Commerce active customers grew just 2% year-over-year to 23.9 million, a notable miss versus analyst expectations, while the segment's adjusted EBITDA margin fell 302 basis points to 5.0%.