(Bloomberg) -- Coupang Inc. posted its first loss in two years, after the acquisition of unprofitable Farfetch Holdings Plc and a government regulatory fine ...
-- Coupang Inc. posted its first loss in two years, after the acquisition of unprofitable Farfetch Holdings Plc and a government regulatory fine offset strong growth in its core e-commerce business.Paris Spent €1.4 Billion to Clean Up the Seine. Has It Worked?
The losses overshadowed resilient top-line growth. It reported a net revenue increase of 25% to $7.3 billion. Shares in Coupang, which popularized one-day delivery in Korea, have climbed about 26% this year after the company posted its first full year of profit in 2023. It’s now seeking growth by expanding into newer arenas like Taiwan even as Alibaba Group Holding Ltd.’s AliExpress and PDD Holdings Inc.’s Temu push into its biggest market.
“While new customers contribute to future growth, our growth today and tomorrow is powered primarily by the increasing spend of our existing customers,” Kim said. “We can’t stress enough how small a share we are of the massive and highly fragmented $560 billion commerce opportunity in the market, and how early we are in that journey.”
A rally attempt has begun, but it's too soon to get excited. Nvidia partner Super Micro led key earnings late.Gov. Henry McMaster warns South Carolinians threat from Debby remains highSen. JD Vance, Republican nominee for vice president, has canceled his plans to visit North Carolina Thursday after Tropical Storm Debby threatens to bring heavy rains, high winds and flooding to the area.A loss to Spain ruined the U.S.
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