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Stock impact report

Why Coupang Stock Was Moving Higher Today [Yahoo! Finance]

Coupang, Inc. Class A (CPNG) 
Company Research Source: Yahoo! Finance
As of 11:44 a.m. ET, the stock was up 4.6%. Image source: Getty Images. Coupang keeps growing Coupang -- which is headquartered in Seattle, operates in several countries, and generates sales primarily in South Korea -- has embraced an Amazon -like business model, with e-commerce anchoring a number of satellite businesses. It said that revenue in the quarter rose 21%, or 28% on a currency-neutral basis, to $7.96 billion. That was short of estimates at $8.14 billion, but that may be due to greater-than-expected currency headwinds. Where Coupang's growth came from was also important. Product commerce, its core e-commerce business, rose 9%, or 16% on a currency-neutral basis, to $6.9 billion. Active customers rose 10% to 22.8 million. However, the real highlight seemed to be growth in its developing offerings, which include international business, food delivery under Coupang Eats, mobile games under Coupang Play, fintech, and Farfetch, the luxury online fashion platform it acquire Show less Read more
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