Financial Data and Key Metrics - Constant currency revenues grew 32% YoY, or 25% excluding Farfetch, marking another quarter of at least 20% growth [7] - Active customers in Product Commerce grew 11% YoY, driven by increased spend from existing customers [7] - Gross profit reached $2.3 billion, a 45% YoY increase, with a gross profit margin of 28.8% [16] - Adjusted EBITDA for Q3 was $343 million, with a margin of 4.4% [19] - Net income attributable to Coupang stockholders was $70 million, with diluted earnings per share of $0.04 [18] Business Line Data and Key Metrics - Product Commerce segment revenues grew 16% YoY, or 20% in constant currency [14] - Developing Offerings segment revenues grew nearly 350% YoY, or over 350% in constant currency [16] - FLC (Fulfillment and Logistics by Coupang) saw growth in units, sellers, and overall volumes, each growing over 130% YoY [10] Market Data and Key Metrics - Total retail spend in Korea was relatively flat YoY, while Coupang's Product Commerce segment grew revenues at 16% YoY [14] - Eats Taiwan and Farfetch showed strong momentum, with Farfetch achieving near break-even profitability [11][24] Company Strategy and Industry Competition - The company focuses on breaking trade-offs between selection and service, aiming to provide the best customer experience [5][9] - Investments in technology and infrastructure are being made to build a stronger foundation for future scalability [17][29] - The company sees a massive runway for growth in Korea, as it represents a small portion of the total commerce spend [14] Management Commentary on Operating Environment and Future Outlook - Management emphasized the importance of customer WOW and operational excellence in capturing future opportunities [12] - The company expects to generate leverage on technology investments, leading to declining OG&A as a percentage of revenue over time [17][29] - Long-term margin guidance for adjusted EBITDA is over 10%, with confidence in expanding margins annually [19][32] Other Important Information - The company launched R.Lux, a luxury offering, providing customers with access to in-demand luxury beauty brands [9] - WOW membership program continues to drive higher engagement, with WOW members spending 2.5x more than new members [8] Q&A Session Summary Question: Developing Offerings Loss Trend and Farfetch Profitability [22][23] - The loss in Developing Offerings decreased due to improvements in Eats and Farfetch, with Farfetch achieving near break-even profitability [24] - Synergies between Coupang and Farfetch will be assessed next year [24] Question: OG&A Cost and FLC Growth [27][28] - The increase in OG&A cost is due to timing of technology and infrastructure investments, not a structural change [29] - FLC growth in units, sellers, and volumes each grew over 130% YoY [30] Question: Product Commerce Margin and Developing Offerings Loss Guidance [31] - Product Commerce margin saw quarterly fluctuations but long-term margin guidance remains over 10% [32] - More updates on Developing Offerings loss guidance for 2025 will be shared in the upcoming quarter [33] Question: Technology Investments and Ad Take Rate [34][36] - Technology investments are not capitalized, and the company expects to generate leverage on these investments over time [35] - Ad take rate continues to be an important area of investment, though it remains a small percentage of overall transaction volume [38] Question: Eats Efficiency and Taiwan Market Progress [40] - Eats saw improved losses due to increased efficiency, with a focus on providing more choice and service [41] - Taiwan market progress is still early, with momentum and operational efficiencies being leveraged from Korea [42]

Coupang, Inc. (CPNG) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 200%. A quarter ago, it was expected that this company would post earnings of $0.01 per share when it actually produced earnings of $0.07, delivering a surprise of 600%.Over the last four quarters, the company has su ...

Revenue Growth - Net revenues of $7.9 billion, up 27% YoY and 32% on an FX-neutral basis[2] - Developing Offerings segment net revenues were $975 million, up 347% YoY on a reported basis and 356% on an FX-neutral basis[3] - Product Commerce segment net revenues were $6.9 billion, up 16% YoY on a reported basis and 20% on an FX-neutral basis[3] - Net retail sales for Q3 2024 increased to $6,140 million, up 15.5% from $5,315 million in Q3 2023[14] - Total net revenues for Q3 2024 reached $7,866 million, a 27.2% increase from $6,184 million in Q3 2023[14] - Total net revenues for Q3 2024 were $7.866 billion, representing a 27% year-over-year growth, and 32% on a constant currency basis[26] - Net retail sales grew 16% year-over-year to $6.140 billion in Q3 2024, and 20% on a constant currency basis[26] - Net other revenue surged 99% year-over-year to $1.726 billion in Q3 2024, and 105% on a constant currency basis[26] - Consolidated total net revenues including Farfetch reached $7,866 million, with a year-over-year growth of 27% on a reported basis and 32% on a constant currency basis[35] - Total net revenues excluding Farfetch were $7,427 million, showing a year-over-year growth of 20% on a reported basis and 25% on a constant currency basis[35] - Developing offerings net revenues excluding Farfetch were $536 million, reflecting a year-over-year growth of 146% on a reported basis and 155% on a constant currency basis[39] Profitability - Gross profit increased 45% YoY to $2.3 billion, with a gross profit margin of 28.8%, up 350 bps YoY[3] - Adjusted EBITDA for the quarter was $343 million with a margin of 4.4%, up 50 bps from last year[3] - Product Commerce segment gross profit margin improved to 30.0% in Q3 2024 from 27.1% in Q3 2023[30] - Developing Offerings segment gross profit margin turned positive at 20.6% in Q3 2024, compared to -24.6% in Q3 2023[30] - Adjusted EBITDA for Q3 2024 was $343 million, with an Adjusted EBITDA margin of 4.4%, up from 3.9% in Q3 2023[29] - Gross profit excluding Farfetch was $2,086 million, with a gross profit margin of 28.1%, up from 25.3% in the previous year[36] - Adjusted EBITDA excluding Farfetch stood at $345 million, with an adjusted EBITDA margin of 4.6%, compared to 3.9% in the previous year[37] Customer Metrics - Product Commerce Active Customers reached 22.5 million, growing 11% YoY[3] - Product Commerce Active Customers grew to 22.5 million in Q3 2024, an 11% increase from 20.2 million in Q3 2023[22] - Net revenues per Product Commerce Active Customer rose to $307 in Q3 2024, up 4% from $296 in Q3 2023[22] Cash Flow and Financial Position - Operating cash flow for the trailing twelve months was $1.8 billion, a decrease of $805 million YoY[3] - Free cash flow was $935 million for the trailing twelve months, a decrease of $920 million YoY[3] - Cash and cash equivalents increased to $5,822 million as of September 30, 2024, up from $5,243 million at the end of 2023[16] - Total assets grew to $16,342 million as of September 30, 2024, compared to $13,346 million at the end of 2023[16] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $1,210 million, down from $2,043 million in the same period of 2023[18] - Purchases of property and equipment for the nine months ended September 30, 2024, totaled $665 million, slightly up from $662 million in the same period of 2023[18] - Long-term debt increased to $1,194 million as of September 30, 2024, up from $529 million at the end of 2023[16] - Outstanding common stock and equity-based awards totaled 1,875 million as of September 30, 2024, up from 1,850 million at the end of 2023[19] - Free cash flow for Q3 2024 was -$42 million, compared to $536 million in Q3 2023[27] Net Income and Earnings - Net income attributable to Coupang stockholders was $70 million, a decrease of $21 million from last year[3] - Developing Offerings segment adjusted EBITDA was negative $127 million, a decrease of $34 million YoY and $73 million QoQ[3] - Adjusted net income attributable to Coupang stockholders was $108 million in Q3 2024, up from $91 million in Q3 2023[31] - Adjusted diluted earnings per share increased to $0.06 in Q3 2024 from $0.05 in Q3 2023[32] Segment Performance - Product Commerce segment net revenues were $6.9 billion, up 16% YoY on a reported basis and 20% on an FX-neutral basis[3] - Developing Offerings segment net revenues were $975 million, up 347% YoY on a reported basis and 356% on an FX-neutral basis[3] - Developing Offerings segment adjusted EBITDA was negative $127 million, a decrease of $34 million YoY and $73 million QoQ[3] - Product Commerce segment gross profit margin improved to 30.0% in Q3 2024 from 27.1% in Q3 2023[30] - Developing Offerings segment gross profit margin turned positive at 20.6% in Q3 2024, compared to -24.6% in Q3 2023[30] - Developing offerings net revenues excluding Farfetch were $536 million, reflecting a year-over-year growth of 146% on a reported basis and 155% on a constant currency basis[39]

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about Coupang, Inc. (CPNG) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Coupang currently has an average brokerage recommendation ...

Group 1 - Michael Wiggins De Oliveira is an inflection investor, focusing on buying undervalued companies at pivotal moments when their profitability is expected to improve significantly over the next year [1] - The investment strategy emphasizes technology and the Great Energy Transition, including uranium, with a concentrated portfolio of approximately 15 to 20 stocks and an average holding period of 18 months [1] - Michael has over 10 years of experience analyzing companies in tech and energy sectors, and has built a following of over 40,000 on Seeking Alpha [1] Group 2 - The investing group led by Michael, Deep Value Returns, offers insights through its concentrated portfolio of value stocks, timely updates on stock picks, and a weekly webinar for live advice [1] - The group provides support for both new and experienced investors, fostering an active and vibrant community that is easily accessible via chat [1]

Company Performance - Coupang, Inc. closed at $25.05, reflecting a -0.32% change from the previous session, which is less than the S&P 500's daily loss of 0.18% [1] - Over the past month, Coupang's shares gained 2.24%, underperforming the Retail-Wholesale sector's gain of 3.95% and the S&P 500's gain of 4.46% [1] - The upcoming earnings report projects an EPS of $0.02, indicating a 60% decline compared to the same quarter last year, while revenue is estimated at $7.79 billion, a 26.04% increase year-over-year [1] Fiscal Year Estimates - For the entire fiscal year, earnings are projected at -$0.02 per share and revenue at $30.57 billion, representing changes of -107.69% and +25.36% from the prior year [2] - Recent revisions in analyst estimates reflect near-term business trends, with upward revisions indicating analysts' positivity towards the company's operations [2] Zacks Rank and Valuation - Coupang, Inc. currently holds a Zacks Rank of 4 (Sell), with the Zacks Rank system showing a track record of outperforming [3] - The company has a Forward P/E ratio of 186.15, significantly higher than the industry average of 23.63, indicating it is trading at a premium [3] - Coupang's PEG ratio stands at 184.3, compared to the Internet - Commerce industry's average PEG ratio of 1.05 [3] Industry Overview - The Internet - Commerce industry is part of the Retail-Wholesale sector and currently holds a Zacks Industry Rank of 70, placing it in the top 28% of all industries [4] - The Zacks Industry Rank evaluates the strength of industry groups based on the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [4]

Investors interested in stocks from the Internet - Commerce sector have probably already heard of JD.com, Inc. (JD) and Coupang, Inc. (CPNG) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an ...

Coupang (CPNG, Financial) surged by 5% to reach multi-year highs after receiving a double upgrade from Bernstein, moving from "Underperform" to "Outperform." This upgrade follows four additional upgrades from other brokerages in 2024. The South Korean e-commerce giant, often compared to Amazon (AMZN, Financial), has experienced a significant rebound this year after a prolonged correction post-IPO in 2021. CPNG has risen over 60% year-todate, driven by strong quarterly performance. Despite a brief decline af ...

Coupang, Inc. (CPNG) closed the latest trading day at $24.19, indicating a -0.98% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.01%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.08%. Heading into today, shares of the company had gained 11.05% over the past month, outpacing the RetailWholesale sector's gain of 5.59% and the S&P 500's gain of 1.21% in that time. The investment community will be closely monitoring the pe ...

Group 1 - The company is referred to as the "South Korean Amazon" indicating its significant presence in the e-commerce sector [1] - The company is very dominant in its home market, showcasing its competitive advantage [1]