Coupang achieves positive EBITDA Q2, expects first annual positive EBITDA for 2022

[Photo by MK DB]

Korean e-commerce giant Coupang Inc. trading on the Wall Street saw its first surplus of $66.17 million in adjusted EBITDA in Q2 ended June since launching signature one-day or overnight Rocket delivery that triggered the race of speed among e-commerce platforms and grocery retailers in South Korea. Operating loss for Q2 was reduced to $75.49 million from $518.6 million on strides by food delivery Coupang Eats. Sales grew 12.5% on year and 27% on constant currency basis to $5.04 billion. CFO Gaurav Anand reminded the company has forecast adjusted EBITDA losses to below $400 million for full 2022, but “we are now raising that guidance to achieve positive adjusted EBITDA for full year.

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