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Coupang posts record sales but operating profit plunges as customer boycott takes hold

Coupang said a “Quit Coupang” backlash linked to a large-scale customer data leak was reflected in its indicators. Fourth-quarter operating profit fell 97 percent from a year earlier and net profit turned to a loss, while revenue rose 11 percent. It reported a slight decline in WOW members and a drop in active customers from the prior quarter. Despite the fourth-quarter hit, Coupang posted record annual revenue and higher operating profit, with growth-led businesses such as Taiwan and Coupang Eats showing strong gains.

Games & Commerce

Coupang Q4 operating profit falls 97 percent; annual revenue 49 trillion won

Coupang Inc reported fourth-quarter operating profit of 11.5 billion won ($8 million), down 97 percent from a year earlier, and posted a net loss of 37.7 billion won. Fourth-quarter revenue rose 11 percent to 12.81 trillion won, though it fell 5 percent from the previous quarter. The company said a large-scale personal data leak negatively affected revenue growth, active customers, Wow membership and profitability. Annual revenue was 49.12 trillion won and net profit 303.0 billion won.