Overview

* Coupang ( CPNG ) Q3 revenue up 18% yr/yr, beating analyst expectations

* Adjusted EBITDA for Q3 missed analyst estimates

* Company repurchased 2.8 mln shares of Class A stock for $81 mln

Outlook

* Company did not provide specific guidance for future quarters

Result Drivers

* PRODUCT COMMERCE GROWTH - Product Commerce segment net revenues rose 16% YoY, with gross profit up 24% YoY

* DEVELOPING OFFERINGS EXPANSION - Developing Offerings segment net revenues increased 32% YoY, despite a widened adjusted EBITDA loss

* CASH FLOW IMPROVEMENT - Operating cash flow for the trailing twelve months increased by $549 million YoY, reaching $2.4 billion

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $9.30 $9.11

Revenue bln bln (8

Analysts

)

Q3 Miss $413 mln $416.80

Adjusted mln (6

EBITDA Analysts

)

Q3 Gross 29.40%

Margin

Q3 Gross $2.70

Profit bln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the department stores peer group is "buy"

* Wall Street's median 12-month price target for Coupang Inc ( CPNG ) is $35.50, about 9.9% above its November 3 closing price of $31.98

* The stock recently traded at 59 times the next 12-month earnings vs. a P/E of 57 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)