Coupang's Q3 profit edges up as active customers exceed 20 million
The logo of local e-commerce giant Coupang is seen outside its headquarters in southern Seoul in this photo taken in 2021. Korea Times file
Coupang, one of the leading e-commerce retailers in Asia, said Wednesday its third-quarter net profit inched up, with the number of its active customers surpassing 20 million.
Coupang, which is listed on the New York Stock Exchange, reported a net profit of $91.3 million for the third quarter, up about $1 million from a year ago, the company said in a statement.
Sales grew 21 percent on year to $6.18 billion while operating profit gained 13 percent to $87.5 million.
Coupang said the number of active customers, or those who bought goods through the company at least once in the third quarter, reached 20.42 million, up 14 percent from last year. Average sales per individual active customer rose 7 percent to $303.
Kim Bom, founder and chief executive of Coupang, said, "Our unrelenting focus on the customer experience and operational excellence drove record results again this quarter." (Yonhap)