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Coupang | 10-K: Annual report

SEC announcement ·  Feb 28 22:23
Summary by Moomoo AI
Coupang, Inc., a leading Asian retailer, reported a significant increase in financial performance for the year 2023. The company's total net revenues rose by 18% to $24.383 billion, up from $20.583 billion in 2022. Gross profit surged by 31% to $6.190 billion, and net income showed a remarkable turnaround from a $92 million loss in 2022 to a $1.360 billion profit in 2023. Adjusted EBITDA increased by 182% to $1.074 billion. The Product Commerce segment's adjusted EBITDA grew by 154%, while the Developing Offerings segment saw a 107% increase in losses, reflecting investments in new offerings and services. Coupang's business development was marked by the expansion of its unique end-to-end integrated fulfillment, logistics, and technology network, enabling Rocket Delivery in Korea. The company also successfully reinvested to expand existing offerings...Show More
Coupang, Inc., a leading Asian retailer, reported a significant increase in financial performance for the year 2023. The company's total net revenues rose by 18% to $24.383 billion, up from $20.583 billion in 2022. Gross profit surged by 31% to $6.190 billion, and net income showed a remarkable turnaround from a $92 million loss in 2022 to a $1.360 billion profit in 2023. Adjusted EBITDA increased by 182% to $1.074 billion. The Product Commerce segment's adjusted EBITDA grew by 154%, while the Developing Offerings segment saw a 107% increase in losses, reflecting investments in new offerings and services. Coupang's business development was marked by the expansion of its unique end-to-end integrated fulfillment, logistics, and technology network, enabling Rocket Delivery in Korea. The company also successfully reinvested to expand existing offerings and develop new services, such as Coupang Eats and Coupang Play. In January 2024, Coupang completed the acquisition of Farfetch, a global luxury fashion marketplace, which is expected to be consolidated in the company's results from Q1 2024. Looking ahead, Coupang plans to continue investing in its growth strategy, particularly in the Developing Offerings segment, and expects to incur significant expenditures for infrastructure and workforce-related costs over the next several years.

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