The South Korean e-commerce player reported revenue was up 13% on a reported basis on Q1 and up 20% on a FX-neutral basis. Active customers were up 5% to 19.01M, while net revenue per active customer improved 8% to $305.
Coupang (CPNG) hit a financial milesone in Q1 after it generated positive free cash flow of $451M on a trailing twelve-month basis.
Following the report, Bank of America reiterated a Neutral rating on Coupang (CPNG). Analyst Susie Lee and team think Coupang (CPNG) is still one of the better placed Asian e-commerce companies for the longer term, but think the company may struggle to balance growth and profitability in the near term.
More on Coupang: