Welcome to our dedicated page for Coupang news (Ticker: CPNG), a resource for investors and traders seeking the latest updates and insights on Coupang stock.
Coupang, Inc. (NYSE: CPNG) is a U.S.-based technology and retail company active in electronic shopping and related services, and its news flow reflects this broad scope. Public announcements describe Coupang as a Fortune 150 company providing retail, restaurant delivery, video streaming, and fintech services worldwide under brands such as Coupang, Eats, Play, Rocket Now, and Farfetch.
News about Coupang frequently centers on its quarterly financial results. The company regularly issues earnings releases and accompanying webcasts, detailing net revenues, gross profit, operating income, cash flow, and segment performance for its Product Commerce and Developing Offerings segments. These updates also highlight key business metrics such as Product Commerce Active Customers and net revenues per active customer.
Another major category of news involves technology and AI initiatives. Coupang has announced large-scale investments in AI, machine learning, robotics, smart logistics, and cloud computing, including the rebranding of its AI cloud computing service as Coupang Intelligent Cloud (CIC). It has also presented its vision for AI-driven commerce at events such as the APEC CEO Summit, emphasizing its role in supporting U.S. exports and international commerce.
Coupang’s news releases also cover partnerships and market expansions, such as collaborations with U.S. wellness brands entering South Korea through its platform and sponsorship agreements like its jersey patch partnership with the Washington Capitals. In addition, the company issues regulatory and governance updates through Form 8-K filings, including disclosures on material events and cybersecurity incidents.
Investors and observers who follow CPNG news can expect a mix of earnings announcements, technology and AI developments, international commerce initiatives, brand partnerships, and regulatory disclosures that together provide insight into Coupang’s evolving business and operations.
Coupang, Inc. (NYSE: CPNG) reported third quarter 2021 results with total net revenues of $4.6 billion, a 48% year-over-year increase. Active customers grew 20% YoY, marking the 15th consecutive quarter of growth. The company expanded its gross margin by 130 basis points to 16.2% and increased gross profit by 62% YoY to $755 million. Notably, advertising revenue nearly tripled YoY. Coupang plans significant investments, including over KRW 1.5 trillion for new fulfillment centers, creating 13,000 jobs.
Coupang, Inc. (NYSE: CPNG) has rescheduled its third-quarter earnings announcement originally set for November 11, 2021, to November 12, 2021, prior to market opening. This decision is due to the U.S. Federal Holiday. The earnings release will be made available post 6:00 AM Eastern Time, with a webcast commencing at 7:00 AM Eastern Time. Coupang operates as one of Asia's largest e-commerce firms, providing services such as same-day grocery delivery, Coupang Eats, and Coupang Play for video streaming.
Coupang, Inc. (NYSE: CPNG) is set to release its financial results for Q3 2021 on November 11, 2021, after U.S. market close. The earnings release and a webcast will be available on the company's Investor Relations website at www.ir.aboutcoupang.com. The webcast will start at 6:00 PM ET. Coupang is one of Asia's largest e-commerce firms, offering services like same-day and next-morning delivery of groceries and merchandise, as well as food delivery through Coupang Eats and video streaming via Coupang Play.
Coupang has appointed Alex Wong as the new Head of Public Affairs, based in Washington D.C.. In this newly established role, Wong will manage public policy and U.S. government relations as Coupang expands its operations in Asia. His previous experience includes significant roles at the U.S. Department of State and advising notable senators. Coupang, which had a remarkable IPO this year, remains committed to transforming e-commerce and enhancing customer services.
Coupang has invested over $200 million in worker safety initiatives since 2020, adding 600+ safety employees. The introduction of Coupang Care, the first paid health promotion program in the logistics industry, has shown positive outcomes, with 60% of participants improving their health metrics in four weeks. The company prioritizes employee safety, especially during the recent heatwave, implementing additional cooling systems across logistics centers. Coupang maintains stringent COVID-19 measures, shutting down centers with positive cases to protect employees.
Coupang reported a remarkable 87% year-over-year sales growth for SMEs on its marketplace in Q2, contrasting with a 7% decline in total offline SME sales in Korea. This growth stems from Coupang's commitment to support small enterprises, which constitute 80% of its sellers. The company invested nearly $350 million this year to aid in their success. Moreover, Coupang accounted for 43% of all U.S. foreign direct investment into Korea in H1 2021, focusing on small businesses. The personalized support during the COVID-19 pandemic has significantly boosted sales for many partnered companies.
Coupang, Inc. (NYSE: CPNG) reported strong financial results for Q2 2021, with total net revenues increasing by 71% year-over-year to $4.48 billion, driven by a 26% rise in Active Customers to 17 million. Gross profit rose 50% to $658 million, or 86% to $816 million when excluding $158 million in inventory write-offs due to a fulfillment center fire. Despite an adjusted EBITDA loss of $122 million, its grocery offering, Rocket Fresh, saw over 100% revenue growth. Coupang also created over 5,000 jobs in Korea, aiming to be the top private job creator.
Coupang, Inc. (NYSE: CPNG) will announce its financial results for Q2 2021 on August 11, 2021, after U.S. market close. The earnings report will be available on their Investor Relations website, with a webcast starting at 5:30 PM ET. Additionally, the lock-up period for securities related to Coupang's IPO will conclude with the trading session on August 13, 2021. Coupang is a leading eCommerce platform in Asia, focusing on enhancing customer convenience through services like same-day delivery and video streaming.
Coupang announced that founder and CEO Bom Kim will speak at the 2021 FORTUNE Global Forum on June 8-9, focusing on leadership amid global challenges. Kim will discuss the company's customer-centric approach to e-commerce and its commitment to innovation and sustainability. He will be joined by other industry leaders, including Starbucks and Airbnb CEOs, to share insights on pioneering business practices post-pandemic. Coupang, founded in 2010, is a leading Asian e-commerce platform offering diverse services, including rapid delivery and streaming.
Coupang founder and CEO Bom Kim will speak at the 2021 FORTUNE Global Forum from June 8-9, focusing on 'Leadership Redefined.' This event gathers top global business leaders to discuss significant global challenges. Kim's session, 'Innovating E-Commerce: A View from Korea,' will highlight how Coupang's customer-centric culture and technological innovation have set new standards in e-commerce. He will address key issues such as environmental sustainability, workplace fairness, and support for small businesses, showcasing Coupang's commitment to enhancing the customer experience.
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