Coupang

CPNG Q1 2026 Earnings

Reported May 5, 2026 at 4:07 PM ET · SEC Source

Q1 26 EPS

$-0.15

MISS 70.45%

Est. $-0.09

Q1 26 Revenue

$8.50B

MISS 1.30%

Est. $8.62B

vs S&P Since Q1 26

-22.4%

TRAILING MARKET

CPNG -22.8% vs S&P -0.3%

Market Reaction

Did CPNG Beat Earnings? Q1 2026 Results

Coupang delivered a sharply disappointing first quarter in 2026, swinging to a net loss and missing analyst expectations on both the top and bottom lines as surging costs overwhelmed modest revenue growth. The South Korean e-commerce giant posted rev… Read more Coupang delivered a sharply disappointing first quarter in 2026, swinging to a net loss and missing analyst expectations on both the top and bottom lines as surging costs overwhelmed modest revenue growth. The South Korean e-commerce giant posted revenue of $8.50 billion, up 7.5% year-over-year but short of the $8.62 billion consensus by 1.30%, while diluted EPS came in at a loss of $0.15, missing the $-0.09 estimate by 70.45% and reversing from a $0.06 profit a year ago. The primary culprit was a dramatic spike in operating expenses, with SG&A climbing to $2.54 billion from $2.16 billion, pushing the company to a $242.00 million operating loss compared to $154.00 million in operating income in Q1 2025. Adjusted EBITDA collapsed 92% to just $29.00 million, with losses in the Developing Offerings segment widening 96% to $329.00 million. Against this backdrop, Coupang simultaneously announced an expanded $2.00 billion share repurchase program, a move that has sparked debate among investors questioning the company's path to sustainable profitability.

Key Takeaways

  • Developing Offerings segment revenue grew 28% YoY driven by newer business lines
  • Product Commerce Active Customers grew 2% YoY to 23.9 million
  • Net revenues per Product Commerce Active Customer increased 2% to $300
  • Net other revenue grew 11% YoY to $2,028 million
  • Constant currency revenue growth of 8% matched reported growth
24/7 Wall St

CPNG YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

CPNG Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26