Coupang reports Q1 EPS 6c vs. 0c last year

Reports Q1 revenue $7.91B, consensus $8.02B. Product Commerce segment net revenues were $6.9 billion, up 6% YoY on a reported basis and 16% YoY on an FX-neutral basis. Product Commerce Active Customers reached 23.4 million, growing 9% YoY. Product Commerce gross profit was $2.2 billion, up 17% YoY on a reported basis and 28% YoY on an FX-neutral basis. Gross profit margin was 31.3%, an increase of over 300 bps YoY. Product Commerce segment adjusted EBITDA was $550 million, up $83 million YoY, with a margin of 8.0%, up 81 bps YoY.