Coupang's stock fell 8.9% after Q3 sales missed estimates despite strong year-over-year growth.

Coupang Inc., a major South Korean e-commerce firm, saw its stock drop 8.9% after reporting Q3 net sales of $6.14 billion, below the $6.24 billion analysts expected. Despite a 27% year-over-year revenue growth to $7.9 billion and consistent double-digit sales growth for seven quarters, operating income of $109 million also fell short of projections. The company aims for positive earnings from its recent acquisition, Farfetch, by late 2024.

November 05, 2024
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