Coupang Q1 Loss Widens, Shares Drop 7%

Coupang reported Q1 adjusted loss of $0.15 per share, missing estimates of $0.03 by $0.12.
Revenue rose 8% YoY to $8.5 billion, slightly beating the $8.49 billion consensus estimate.
Adjusted EBITDA fell 92% to $29 million (0.3% margin), while Developing Offerings segment loss widened to $329 million.
Company repurchased 20.4 million shares for $391 million and added $1 billion to its buyback authorization.