Coupang's revenue for the first quarter of this year surpassed 11 trillion won. It turned to profit in net income.
According to the consolidated performance report submitted to the U.S. Securities and Exchange Commission (SEC) on the 7th by Coupang Inc, Coupang Inc's revenue for the first quarter was 11.4876 trillion won ($7.908 billion; quarterly average exchange rate 1,452.66), which is a 21% increase compared to the same period last year (9.4505 trillion won).
Operating profit was 233.7 billion won ($154 million), representing an increase of about 300% compared to the same period last year.
Net income was 165.6 billion won ($114 million), marking a turnaround from a net loss of 31.8 billion won recorded in the same period last year. The operating profit margin and net profit margin were recorded at 2% and 1.4%, respectively.