Coupang, Inc. announced its financial results for the second quarter ended June 30, 2025, reporting total net revenues of $8.524 billion, a 16% increase year-over-year, or 19% on a constant currency basis. This revenue figure exceeded Wall Street expectations.
Gross profit for the quarter reached $2.561 billion, up 20% year-over-year, or 22% on a constant currency basis. Operating income showed significant improvement, rising to $149 million from a loss of $25 million in the prior year period.
However, net income attributable to Coupang stockholders was $32 million, resulting in diluted earnings per share of $0.02, which was 70.6% below analysts’ consensus estimates. Free cash flow for the quarter was $247 million, a 49% decrease year-over-year, and net cash provided by operating activities also declined by 18% to $545 million.
The Product Commerce segment continued its strong performance, with net revenues growing 14% year-over-year, or 17% on a constant currency basis, and segment adjusted EBITDA increasing 25% to $663 million. Developing Offerings net revenues grew 33% to $1.190 billion, but its adjusted EBITDA loss widened to $235 million from $200 million in the prior year.
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