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Dec 31, 2023
Coupang Q4 2023 Earnings Report
Coupang's Q4 2023 performance was marked by revenue growth and increased customer engagement.
Key Takeaways
Coupang reported strong Q4 2023 results with a 23% YoY increase in net revenues to $6.6 billion and a 32% YoY increase in gross profit to $1.7 billion. The company's active customers surpassed 21 million, demonstrating substantial growth and customer engagement.
Net revenues increased by 23% year-over-year to $6.6 billion.
Gross profit grew by 32% year-over-year to $1.7 billion, with a gross profit margin of 25.6%.
Net income reached $1.0 billion, or $0.57 per diluted share.
Active customers increased by 16% year-over-year, surpassing 21 million.
Coupang
Coupang
Forward Guidance
While the report doesn't explicitly include forward guidance, the CEO and CFO comments suggest a positive outlook for 2024, focusing on continued customer delight and long-term shareholder value.
Positive Outlook
- Continued focus on customer satisfaction and creating 'wow' experiences.
- Commitment to investing in more savings and benefits for customers.
- Significant opportunity for growth in the Korean and Taiwanese retail markets.
- Confidence in the teams' ability to drive long-term shareholder value.
- Record $3 billion in benefits and savings provided to WOW members.
Challenges Ahead
- Developing Offerings segment adjusted EBITDA was negative $150 million, compared to negative $55 million in the prior year.
- No specific financial guidance provided for future periods.
- Potential risks associated with managing growth and expansion into new markets.
- Impact of the global economy, including inflation and foreign currency exchange rates.
- Competition in the retail industry.