Coupang reported a strong Q4 2022 with total net revenues of $5.3 billion, a net income of $102 million, and an adjusted EBITDA of $211 million. The company saw significant year-over-year improvements in gross profit and adjusted EBITDA, demonstrating progress towards profitability. They are updating their long-term adjusted EBITDA guidance to 10% or higher.
Total net revenues increased by 5% year-over-year to $5.3 billion.
Net income reached $102 million, a $507 million improvement year-over-year.
Gross profit surged by 59% year-over-year to $1.3 billion, with a gross profit margin of 24.0%.
Adjusted EBITDA was $211 million, reflecting a $496 million improvement year-over-year.
Coupang expects to see margin expansion in 2023 and anticipates further penetration in the retail market.
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