🚀 Q4 Revenue Soars
Coupang's Q4 revenue hit $8B, up 21% year-over-year. FX-neutral growth was even stronger at 28%. Excluding Farfetch, the numbers still climbed 14% and 21%, respectively. The Farfetch acquisition played a key role in the surge, boosting overall sales.
📦 Product Sales Climb
The product commerce segment grew 9% to $6.9B. Active customers increased 10% to 22.8M. Meanwhile, Coupang’s developing offerings segment skyrocketed 296% to $1.1B. Even without Farfetch, this segment saw a strong 124% growth.
💰 Profits & Net Income
Gross profit surged 48% to $2.5B. Excluding Farfetch and insurance gains, profit was up 29%. Net income dropped to $156M, down $876M from last year. This was due to a tax benefit of $895M in Q4 2023. Without Farfetch, net income stood at $77M.
📊 Full-Year Performance
Coupang closed 2024 with $30.3B in revenue, a 24% rise. FX-neutral growth reached 29%. Without Farfetch, the rise was 17%. Full-year net income was $154M, down $1.2B. Adjusted for insurance gains, fines, and Farfetch, net income stood at $407M.
Will Farfetch continue to fuel Coupang’s growth?
