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Coupang Swings to Net Loss in Q1 Amid Fallout From Data Breach
The company posted a $266 million net deficit and said sales rose 8% as it faced backlash over a breach involving 33.6 million customers.
Summary by The Korea Times
4 Articles
4 Articles
How South Korea’s e-commerce giant Coupang is paying for a data disaster
In its latest earnings report, Coupang posted revenue of US$8.5 billion, an 8 per cent increase from a year earlier. But the company also reported a net loss of US$266 million as the financial impact of the breach continued to weigh on the business.
Coupang Stock Slides After $266 Million Q1 Loss, and the Data-Breach Bill Is Still Coming Due
Coupang reported a $266 million net loss for the first quarter, citing costs from last year’s data breach. Shares fell 16.6% to $17.32 in New York trading. Revenue rose 8% to $8.5 billion, but operating loss reached $242 million. Management expects Q2 margins to remain under pressure despite a rebound in WOW memberships. The post Coupang Stock Slides After $266 Million Q1 Loss, and the Data-Breach Bill Is Still Coming Due appeared first on TechS…
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Leaning Left1Leaning Right1Center0Last UpdatedBias Distribution50% Left, 50% Right
Bias Distribution
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50% Right
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