Coupang Inc. recorded its highest-ever revenue of 11.9763 trillion won in the second quarter of this year, continuing its growth trend. The revenue from the growth institutional sector (Taiwan Rocket Delivery, etc.) increased by 33% compared to the same period last year, proving its global business expansion.
According to the consolidated earnings report submitted by Coupang Inc. to the U.S. Securities and Exchange Commission (SEC) on the 6th (Korean time), Coupang Inc.'s second-quarter revenue increased by 19% to 11.9763 trillion won (approximately $8.524 billion) compared to the same period last year (10.0357 trillion won). In dollar terms, it rose by 16%. The previous highest quarterly revenue was 11.4876 trillion won in the first quarter.
Operating profit for the second quarter was 209.3 billion won (approximately $149 million), marking a turnaround from an operating loss of 34.2 billion won in the same quarter last year. In the second quarter of last year, the Fair Trade Commission's penalty surcharge of 162.8 billion won was reflected in the results. The operating margin was 1.7%, down 0.3 percentage points from the previous quarter (2.0%).
Net income for the period was 43.5 billion won (approximately $31 million), a turnaround from a net loss of 143.8 billion won in the second quarter of last year. The net profit margin was recorded at 0.4%, which is 1 percentage point lower than the previous quarter (1.4%). Earnings per share were recorded at $0.02.
The number of active customers in product commerce (Rocket Delivery, Rocket Fresh, Rocket Growth, Marketplace) was 23.9 million, up 10% from 21.7 million in the same period last year. Revenue from the product commerce institutional sector increased by 17% to 10.3044 trillion won (approximately $7.334 billion). Revenue per active customer was 431,340 won (approximately $307), which is a 6% increase.
Revenue from the growth institutional sector, including Taiwan Rocket Delivery, Farfetch, and Coupang Eats, was $1.19 billion (approximately 1.6719 trillion won), marking the highest quarterly performance to date. It grew by 33% compared to the same period last year and increased by 15% and 11%, respectively, compared to the previous quarter ($1.038 billion, approximately 1.5078 trillion won), maintaining its growth momentum.
The adjusted EBITDA loss for the growth business was 330.1 billion won (approximately $235 million), which is a 20% increase compared to the loss of 274 billion won in the same period last year.