Companies /Consumer Cyclical
Coupang Inc - Class A
NYSE: CPNG Internet Retail
$15.82
▲ $0.41 (+2.66%) today
Markets closed · 10:49pm ET

Coupang (CPNG) Q3 2025 Earnings

Reported Nov 4, 2025, 4:08pm ET · SEC source
$0.05
Beat +25.00%
EPS · est. $0.04
$9.3B
Beat +1.32%
Revenue · est. $9.1B
−10.5%
Trailing market
CPNG vs S&P since report
1 quarter
Consecutive EPS beats

How Did CPNG Stock React to Q3 2025 Earnings?

% change · around the report
−6%−3%0Nov 4Nov 5report 4:08pm ETearnings+0.3%−4.3%
−6%−3%0Nov 4Nov 5earnings+0.3%−4.3%
CPNG −4.3%S&P 500 +0.3%
−6%−3%0Nov 4Nov 5report 4:08pm ETearnings+0.6%−4.3%
−6%−3%0Nov 4Nov 5earnings+0.6%−4.3%
CPNG −4.3%NASDAQ +0.6%
−12%−8%−4%0Nov 3Nov 12report 4:08pm ETearnings+1.1%−9.0%
−12%−8%−4%0Nov 3Nov 12earnings+1.1%−9.0%
CPNG −9.0%S&P 500 +1.1%
−12%−8%−4%0Nov 3Nov 12report 4:08pm ETearnings+0.3%−9.0%
−12%−8%−4%0Nov 3Nov 12earnings+0.3%−9.0%
CPNG −9.0%NASDAQ +0.3%
−5.94%
Day of report
−4.04%
Next session
−4.60%
One week
−9.56%
30 days

S&P 500 over the same 30 days: +0.89%.

Did CPNG Beat Earnings? Q3 2025 Results

Yes. Coupang reported Q3 2025 earnings of $0.05 a share on Nov 4, 2025, beating the $0.04 consensus estimate by 25.0%. Revenue was $9.3B against a $9.1B estimate.

Coupang delivered a beat on both the top and bottom lines in the third quarter, posting earnings per share of $0.05 against a consensus estimate of $0.04, a 25.00% positive surprise, while revenue of $9.27 billion edged past the $9.15 billion Wall Street expected and grew 17.8% year over year. The primary engine behind the quarter was a robust performance in the company's core Product Commerce segment, where gross margin expanded 212 basis points to 32.1% and segment adjusted EBITDA climbed 50% to $705.00 million, underscoring the operational leverage Coupang continues to extract from its South Korean e-commerce dominance. Cash generation was equally compelling, with free cash flow swinging to $442.00 million from negative $42.00 million a year ago. The quarter was not without friction, however; losses in the Developing Offerings segment widened sharply to $292.00 million as the company accelerated investment in restaurant delivery, streaming, and fintech, a trade-off investors will weigh carefully against the otherwise strong profitability trajectory.

Key Takeaways
  • Product Commerce Active Customers grew 10% YoY to 24.7 million
  • Net revenues per Product Commerce Active Customer increased 5% YoY to $323 (7% constant currency)
  • Product Commerce gross profit margin expanded 212 bps YoY to 32.1%
  • Product Commerce segment adjusted EBITDA margin improved 201 bps YoY to 8.8%
  • Developing Offerings revenue grew 32% YoY driven by newer business lines
  • Operating cash flow surged 137% YoY to $792 million in the quarter

CPNG YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$3.0B$6.0B$9.0B$7.9B$9.3BRevenue$2.3B$2.7BGross Profit$109.0M$162.0MOperating Income$70.0M$95.0MNet Income
$0$3.0B$6.0B$9.0BRevenueGross ProfitOperating IncomeNet Income
CPNG income statement, Q3 2025 versus Q3 2024
Metric Q3 2025 Q3 2024 Year over year
Revenue $9.3B $7.9B +17.8%
Gross Profit $2.7B $2.3B +19.9%
Operating Income $162.0M $109.0M +48.6%
Net Income $95.0M $70.0M +35.7%

CPNG Revenue by Segment

Product Commerce$8.0B+16.0%
Net Retail Sales$7.1B+15.0%
Net Other Revenue$2.2B+27.0%
Developing Offerings$1.3B+32.0%

Figures from SEC filings and company reports. Not investment advice.