In its second-quarter earnings report filed with the U.S. Securities and Exchange Commission on Wednesday, Coupang's revenue was 10.03 trillion won, up 30 percent from the same period in 2023.
The company, listed on the New York Stock Exchange, reported an operating loss of 34.2 billion won, ending a streak of seven consecutive quarters of profit since the third quarter of 2022.
In the second quarter of 2023, Coupang had reported an operating profit of 194 billion won.
The company reported a net loss of 143.8 billion won, compared to a net profit of 190.8 billion won a year ago.
Coupang attributed the deficit to losses from Farfetch, its London-based e-commerce subsidiary, and an estimated $121 million fine imposed in June by the Fair Trade Commission for using unfair search algorithms and uploading false product reviews.
Excluding the impact of Farfetch and the estimated fine, Coupang estimated its net income to be about $124 million.
reporter
Kim Joo-heon
jhkim123@ajunews.com
