Business & Finance
Coupang’s Losses Grow After Fallout From Data Breach Deepens
Key Points
Asia Coupang’s Losses Grow After Fallout From Data Breach Deepens Coupang Inc. reported a larger-than-expected loss, underscoring the damage from a massive personal data leak that resulted in heavy administrative fines in South Korea, its primary market. Shares of the US-listed online retailer slid around 5% in post-session trading after it swung to an operating loss of $556 million in the June quarter, compared with analysts’ average projection of a $361 million loss.
Asia
Coupang’s Losses Grow After Fallout From Data Breach Deepens
Coupang Inc. reported a larger-than-expected loss, underscoring the damage from a massive personal data leak that resulted in heavy administrative fines in South Korea, its primary market.
Shares of the US-listed online retailer slid around 5% in post-session trading after it swung to an operating loss of $556 million in the June quarter, compared with analysts’ average projection of a $361 million loss. Net revenue rose 4% from the prior year, broadly in line with expectations.