South Korean e-commerce giant Coupang's Q1 revenue up 23% to $7.1bn, but net income fell 95% due to Farfetch acquisition losses.

South Korean e-commerce giant Coupang reported a 23% increase in Q1 revenue to $7.1bn, but net income fell 95% due to losses from its acquisition of Farfetch. Farfetch, a luxury e-commerce subsidiary, posted a net loss of $93m in Q1 despite generating $288m in revenues for Coupang. Coupang's shares fell about 5% following the results release.

May 07, 2024
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