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Stock impact report

Coupang's Shares Climb After Profit Surges in Competitive Market [Yahoo! Finance Canada]

Coupang, Inc. Class A (CPNG) 
Most Read from Bloomberg The online retailer earned an operating income of $312 million, almost double the estimate of $168 million after booking an insurance gain in connection with a fire that damaged one of its fulfillment centers in 2021. Net revenue rose 21% in the December quarter, slightly shy of the average analyst projection, on a 10% rise in active customers in the product commerce segment, according to a company statement. Coupang's stock price gained as much as 6.1% in after-hours trading in New York. Its shares are up 10% for the year. Founded in 2010, Seattle-based Coupang has invested heavily to popularize overnight delivery in South Korea with initial backing from SoftBank Group Corp. It's since made forays into food deliveries and streaming services, as well as acquiring London-based online luxury company Farfetch in January of last year. Net revenue from the developing offerings segment, which includes such new business ventures, jumped almost 300%. Excluding Show less Read more
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