Coupang’s revenue up 27%, lifted by new ventures
Coupang’s Q3 revenue surged 27% to $7.9B, thanks to growth in new ventures like food delivery and luxury retail. Farfetch, acquired in January, contributed to gains, though it led to a 23% drop in net income. Excluding Farfetch, income hit $108M. Despite a 7% stock dip after the report, Coupang’s shares have climbed 66% this year, driven by its 2023 profits and expansion across Asia.