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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
Coupang Revenue by Segment
Revenue by Segment
Product Commerce Revenue
CapyFin.comDeveloping Offerings Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income