Summary by Moomoo AI
Coupang, Inc., a diversified e-commerce company, reported its Q1 2024 financial results, revealing a significant increase in total net revenues to $7.114 billion, up 23% from $5.801 billion in Q1 2023. Despite this revenue growth, the company experienced a net loss of $24 million, a stark contrast to the $91 million net profit in the previous year. The net income margin turned negative to (0.3)%, down from 1.6%. Adjusted EBITDA saw a 17% increase to $281 million, with a slight decrease in margin from 4.2% to 3.9%. Operating cash flow decreased by 58% to $212 million, and free cash flow plummeted by 74% to $107 million. The Product Commerce segment's adjusted EBITDA surged by 62% to $467 million, while the Developing Offerings segment reported a loss, which was not meaningful to calculate a percentage change. The company's acquisition...Show More