CPNG Q3 2025 Earnings
Reported Nov 4, 2025 at 4:08 PM ET · SEC Source
Q3 25 EPS
$0.05
BEAT +25.00%
Est. $0.04
Q3 25 Revenue
$9.27B
BEAT +1.32%
Est. $9.15B
vs S&P Since Q3 25
-39.4%
TRAILING MARKET
CPNG -33.1% vs S&P +6.4%
Market Reaction
Did CPNG Beat Earnings? Q3 2025 Results
Coupang delivered a beat on both the top and bottom lines in the third quarter, posting earnings per share of $0.05 against a consensus estimate of $0.04, a 25.00% positive surprise, while revenue of $9.27 billion edged past the $9.15 billion Wall St… Read more Coupang delivered a beat on both the top and bottom lines in the third quarter, posting earnings per share of $0.05 against a consensus estimate of $0.04, a 25.00% positive surprise, while revenue of $9.27 billion edged past the $9.15 billion Wall Street expected and grew 17.8% year over year. The primary engine behind the quarter was a robust performance in the company's core Product Commerce segment, where gross margin expanded 212 basis points to 32.1% and segment adjusted EBITDA climbed 50% to $705.00 million, underscoring the operational leverage Coupang continues to extract from its South Korean e-commerce dominance. Cash generation was equally compelling, with free cash flow swinging to $442.00 million from negative $42.00 million a year ago. The quarter was not without friction, however; losses in the Developing Offerings segment widened sharply to $292.00 million as the company accelerated investment in restaurant delivery, streaming, and fintech, a trade-off investors will weigh carefully against the otherwise strong profitability trajectory.
Key Takeaways
- • Product Commerce Active Customers grew 10% YoY to 24.7 million
- • Net revenues per Product Commerce Active Customer increased 5% YoY to $323 (7% constant currency)
- • Product Commerce gross profit margin expanded 212 bps YoY to 32.1%
- • Product Commerce segment adjusted EBITDA margin improved 201 bps YoY to 8.8%
- • Developing Offerings revenue grew 32% YoY driven by newer business lines
- • Operating cash flow surged 137% YoY to $792 million in the quarter
CPNG YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
CPNG Revenue by Segment
With YoY comparisons, source: SEC Filings
CPNG Earnings Trends
CPNG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CPNG EPS Trend
Earnings per share: estimate vs actual
CPNG Revenue Trend
Quarterly revenue: estimate vs actual
CPNG Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $0.05 | $-0.01 | -120.00% | $8.84B | -3.13% |
| FY Full Year | $0.17 | $0.11 | -35.97% | $34.53B | -0.82% |
| Q3 25 BEAT | $0.04 | $0.05 | +25.00% | $9.27B | +1.32% |
| Q2 25 MISS | $0.05 | $0.02 | -60.00% | $8.52B | +1.72% |
| Q1 25 BEAT | $0.05 | $0.06 | +21.46% | $7.91B | -1.30% |