Coupang Inc - Class A

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 $-0.088 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.