[Breaking] Coupang Inc. Swings to Operating Loss of 835 Billion Won in Q2

Coupang Inc., the parent company of Coupang, recorded sales of 13 trillion won in the second quarter of this year but posted an operating loss of 830 billion won.

According to the second-quarter consolidated financial report submitted by Coupang Inc. to the U.S. Securities and Exchange Commission (SEC) on August 5 (Korean time), Coupang Inc.'s second-quarter sales were $8.856 billion, up 4% from $8.524 billion in the same period last year. When converted at the average KRW-USD exchange rate during the period (1,501.89 won), this amounts to 13.3007 trillion won.

On the other hand, the operating loss for the same period in the second quarter was $556 million (835 billion won), turning to a loss compared to the same period last year ($149 million, or 209.3 billion won). The net loss for the quarter also turned negative, recording $570 million (856 billion won) compared to a net profit of $31 million (43.5 billion won) in the same period last year.

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