By Paul Ziobro
Coupang posted strong revenue growth in the fourth quarter, as the online-shopping company logged more sales and added more customers.
The Seattle company, which operates an online-shopping business in Korea, on Tuesday reported a profit of $156 million, or 8 cents a share, compared with a profit of $1.03 billion, or 57 cents, in the same quarter a year earlier. Last year's results were boosted by an $895 million non-cash tax benefit.
Excluding benefit from a fulfillment center fire insurance gain, earnings would have been 1 cent a share. Analysts polled by FactSet expected 1 cent a share.
Revenue rose 21%, to $7.97 billion, short of the $8.14 billion expected by analysts.
Product commerce revenues rose 9%, to $6.9 billion, the company said. The number of active customers reached 22.8 million, up 10% from a year ago.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
February 25, 2025 16:47 ET (21:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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