Coupang Reports Operating Profit of 53.1 Billion KRW in Q1, Down 61% Year-on-Year

Sales Reach Record High of 9 Trillion Won for the First Time

Coupang announced on the 8th that its operating profit for the first quarter of this year was $40 million (approximately 53.1 billion KRW based on an exchange rate of 1,328.45 KRW), a 61% decrease compared to the same period last year.

Coupang Headquarters, Songpa-gu, Seoul. Photo by Jinhyung Kang aymsdream@

The net loss for the period was $24 million (approximately 31.9 billion KRW), marking a return to deficit after seven quarters since Q2 2022. Coupang had recorded a net profit of $90.85 million (approximately 116 billion KRW) in the first quarter of last year.

Revenue increased by 28% to $7.114 billion (9.4505 trillion KRW). This is the first time quarterly revenue has exceeded 9 trillion KRW.