Coupang reported fourth quarter revenue of $8.84 billion, an 11% year-over-year increase, and a diluted loss per share of $(0.01). The results missed analyst expectations, which the company attributed in part to a data incident that adversely impacted growth rates and profitability during the quarter.
Key Highlights
- The company disclosed a fourth quarter data incident involving a former employee that it stated adversely impacted revenue growth, active customers, and profitability.
- Product Commerce Active Customers grew 8% year-over-year to 24.6 million, missing the consensus estimate of 25.4 million.
- Revenue from the Developing Offerings segment grew 32% YoY to $1.4 billion, but its adjusted EBITDA loss widened significantly to $(300) million from a $(118) million loss in the prior-year period.