Coupang (CPNG) Revenue Climbs But Farfetch Deal Erodes Earnings
Coupang Inc., facing mounting competition in e-commerce, declined in late trading after first-quarter earnings came in shy of analysts’ estimates.Adjusted earnings before interest, taxes, depreciation and amortization rose 17% to $281 million, the company said in a statement TuesdayBloomberg Terminal. Analysts had projected $283.3 million. Net income plunged 95% after the company included losses from Farfetch Holdings Plc, the online luxury company it acquired in January....
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