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Coupang's net revenue rises to $9.3B in Q3, profit falls short of market expectations

Published: 05 Nov. 2025, 17:45 Updated: 05 Nov. 2025, 19:53

The Coupang logo is seen on a delivery truck at the firm's logistics center in Seoul on Nov. 5. [YONHAP]

Coupang reported net revenue of $9.3 billion for the third quarter of this year, up 18 percent from a year earlier, the company said in a filing on Wednesday.

While operating profit rose 49 percent to $162 million, it was well below Wall Street’s estimates for $210.1 million, despite the higher-than-expected revenue.

The Korean retailer, listed in New York, also reported net income of $95 million, up from $64 million a year earlier. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came to $413 million, with a margin of 4.5 percent, up 10 basis points from last year.

“Korea remains a remarkably durable growth opportunity with a largely untapped runway ahead," CEO Bom Kim said during the company’s earnings call, adding that Coupang will expand its offerings in Rocket Delivery and its marketplace operations while accelerating logistics automation.

Revenue from Coupang’s core Product Commerce segment — which includes Rocket Delivery, Rocket Fresh and the marketplace business — climbed 16 percent on a reported basis to $8 billion, with segment-adjusted EBITDA rising 50 percent to $705 million. Gross profit in the segment increased 24 percent to $2.56 billion, with a margin of 32.1 percent, up 2.1 percentage points year-on-year.

The number of active customers reached 24.7 million, a 10 percent increase from a year earlier.

The company’s Developing Offerings segment — covering operations in Taiwan, Farfetch and Coupang Eats — posted revenue of $1.3 billion, up 32 percent from a year earlier. The segment’s adjusted EBITDA loss widened to $292 million, from $127 million a year earlier.

Kim said Coupang's delivery service in Taiwan "continues to accelerate, generating exciting on-year and on-quarter revenue growth again this quarter," crediting the company’s focus on improving the overall customer experience for "gaining meaningful traction with consumers, driving higher levels of adoption and retention."

He added that although Coupang’s Taiwan logistics network remains in its early stages, the firm has expanded deliveries handled by its own network, bringing the service closer to the “levels of speed and reliability that customers have come to expect from Coupang in Korea."

Chief Financial Officer Gaurav Anand attributed the Developing Offerings segment’s losses to "increased investments required to support the growing momentum we’re seeing, most notably in Taiwan."

Bloomberg reported that while Coupang’s revenue growth remained robust, its operating profit fell short of market expectations, with analysts citing intensified competition from Alibaba and Temu.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KANG KI-HEON [[email protected]]