, Korea
Source: Coupang

Coupang narrows loss to  $75m in Q2 

This improved from the $518m loss in the same quarter last year.

E-commerce company Coupang reported its net loss dropped to $75.49m in the second quarter of the year, an improvement from $518.6m in the same quarter in 2021. 

“Customers turn to us for amazing experiences, faster delivery, and lower prices, and we’re determined to wow them every day,” Bom Kim, founder and CEO of Coupang, said. 

“We increased our investment—to a record $500 million in Q2 alone—in exclusive discounts, free Rocket deliveries, and free Coupang Play video content for our WOW members. We exist to transform the lives of our customers, and WOW membership is the embodiment of that relentless customer focus.”

Over the same period, Coupang saw its net revenues grow by 12% year-on-year and by 3% quarter-on-quarter to $5.03b.

Read more: Coupang profit soars 42% YoY in Q1 2022

The company’s product commerce net revenues went up 13%YoY to $4.9b, which is over four times the growth rate of the Korean product e-commerce segment. 

“We’re pleased to report that we achieved positive adjusted earnings before interest, taxes, depreciation and amortisation on a consolidated basis, generating $66m across the entire business, improving $157m from the prior quarter. Over the past two quarters, we’ve driven a total improvement of over $350m, a reflection of our continued execution across the company,” Coupang’s CFO, Gaurav Anand said. 

“At the beginning of the year, we provided guidance of total company adjusted EBITDA losses below $400 million for 2022. We are now raising that guidance to achieve positive adjusted EBITDA for the full year,” he said. 

By2022, Coupang projected it will achieve a positive adjusted (EBITDA). This is a revision from the initial outlook of EBITDA loss of $400m. 

 

 

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Why China’s dairy industry slowing down
Economic and demographic forces are amongst the major factors slowing the industry.
Alibaba merges e-commerce units
It will unify the Taobao and Tmall Group with the Alibaba International Digital Commerce (AIDC) Group.
E-commerce
Rakuten and L’Oréal Japan partner to deliver personalised beauty solutions
The partnership will leverage Rakuten’s AI and marketing data alongside L’Oréal’s advanced beauty technology.
Technology

Exclusives

Mars Wrigley bets on Asia’s chocolate boom
The US company expects the region’s rising middle class to eat more M&M’s and Snickers.
Stores
Food Innovators to serve up ‘anime’ diners in Singapore
CEO Kubota Yasuaki expects the city-state to become their gateway to other Asian countries.
Brands told to come clean about beauty care
Consumers are more discerning and can easily spot fake ingredient claims.
Swarovski cracks TikTok to scale luxury amongst Gen Zs
The Austrian glassmaker is working with influencers to connect with the Singaporean market.