Coupang Shares Fall Despite Beating Earnings Expectations

The South Korean e-commerce giant reported increased revenue but missed retail sales estimates, impacting its stock performance.

Coupang reported net revenue of $7.9 billion for the third quarter, surpassing analyst estimates of $7.8 billion.
Despite the revenue beat, retail net sales of $6.14 billion fell short of the expected $6.24 billion, leading to a drop in stock prices.
The company's stock fell as much as 8.9% in after-hours trading following the earnings report.
Farfetch, acquired by Coupang earlier this year, nears breakeven on an adjusted EBITDA basis, showing improved financial performance.
Coupang's growth strategy includes expanding into luxury goods and investing in Taiwan to counter competition from AliExpress and Temu.