Core Insights - Coupang (CPNG) is set to report its third-quarter 2025 results on November 4, with revenue expectations of $9.06 billion, reflecting a 15.15% year-over-year increase, while earnings per share are estimated at 4 cents, indicating a 33.33% decline from the previous year [2][8]. Financial Performance - CPNG achieved a 19% year-over-year constant currency revenue growth in the second quarter of 2025, reaching $8.5 billion, and is expected to continue this momentum into the third quarter [4]. - The Product Commerce segment is anticipated to maintain its margin expansion, building on a 227-basis-point improvement in gross profit margin from the previous quarter [4]. Customer Engagement - Active customer growth of 10% and increased average spending across customer cohorts suggest strong engagement levels through the third quarter [4]. Growth Drivers - Taiwan operations are projected to remain a significant growth driver, following triple-digit year-over-year revenue growth and a 54% sequential acceleration in the second quarter of 2025 [5]. Profitability Challenges - Profitability pressures are expected to persist, with CPNG raising its full-year Developing Offerings adjusted EBITDA loss guidance to between $900 million and $950 million due to high investment levels in Taiwan and Eats [6]. - Operating expenses as a percentage of revenues increased by 96 basis points sequentially in the prior quarter and are expected to remain elevated as the company invests in technology infrastructure and AI initiatives [6]. Earnings Outlook - According to the Zacks model, CPNG currently has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold), indicating lower odds of an earnings beat [7].