Coupang reports $92 million net loss in 2022

Coupang trucks are parked in a parking lot in Seoul. [NEWS1]

 
Coupang reported a net loss of $92 million in 2022, compared with a net loss of $1.5 billion in 2021.
 
The New York Stock Exchange-listed company fell short of analyst estimates, losing $0.05 per share in 2022 versus a consensus of $0.08 per share earnings.
 
Revenue in 2022 was $20.5 billion compared with $18.4 billion in 2021 and a market consensus of $20.72 billion.
 
In the fourth quarter, the company beat the consensus, earning $0.06 per share. The analyst expectation was $0.05 per share.
 
The company reported a net profit of $102.1 million for the fourth quarter, compared with a net loss of $405 million in the same period a year earlier.
 
The e-commerce company had 18,115 active customers in 2022, up 1 percent on year. Net revenue per active customer was $294 in 2022, compared with $283 in 2021.
 
Coupang, which went public in 2021, is the first and only e-commerce company in Korea to list. It sold shares at $35, and trading started on March 11, 2021 at $63.50. They are trading now at about $15.
 
The e-commerce company was started in 2010. It reported its first profit in the third quarter of 2022.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]